UK Offence Report

The Finance Act 2007, Schedule 24 (Commencement and Transitional Provisions) Order 2008

UK Statutory Instrument 2008 No. 568 — creates 1 criminal offence.

1offences created
0recorded in force
0revoked
Made
3 March 2008
In force from
Not determined
Extent
Not stated
Subject
Corporate, financial services, company law, employment, charity, electoral and tax
Made under
Finance Act 2007, No. 568 (C. 20) Revenue And Customs The Finance Act 2007

Explanatory note

(This note is not part of the Order) — published with the instrument by the department that made it. © Crown copyright, reused under the Open Government Licence v3.0.

This Order brings into force the provisions of Schedule 24 to the Finance Act 2007 (“Schedule 24”). It also contains savings provisions. Schedule 24 introduced a single new penalty regime for incorrect returns for income tax, corporation tax, PAYE and VAT where the penalty is determined by the amount of tax understated, the nature of the behaviour giving rise to the understatement and the extent of disclosure by the taxpayer. Article 2 brings into force on the dates specified, and in relation to the tax periods, claims or other liabilities to pay tax specified, those provisions of Schedule 24 which relate to errors in documents, and to failure to notify HMRC of under-assessments of tax. Article 3 provides that Schedule 24 shall not apply in relation to any tax period for which a return is required to be made before 1st April 2009. Article 4 preserves the existing penalty provisions for VAT evasion involving dishonest conduct which does not relate to inaccurate returns to, or under-assessments by, HMRC.

Offences created by this instrument

What Parliament said about it

Hansard was searched for this instrument by name and returned nothing. That is the ordinary outcome: an instrument laid under the negative procedure is usually never debated, and becomes law without a word said about it in either House.

How Parliament handled it

Parliament's Statutory Instruments service records procedure from May 2017 onwards, and this instrument predates it. That is a limit of the source, not a statement that nothing happened.

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