Finance (No. 2) Bill (HL Bill 156)

(6) In sub-paragraph (5)(f) the reference to the uncorrected relevant offshore tax
non-compliance is to so much of P’s relevant offshore tax non-compliance at
the end of the 2016-17 tax year as P failed to correct within the RTC period.

(7) The information may be published in any manner that the Commissioners
5consider appropriate.

(8) Before publishing any information the Commissioners must—

(a) inform P that they are considering doing so, and

(b) afford P the opportunity to make representations about whether it
should be published.

(9) 10No information may be published before the day on which the penalty
becomes final or, where more than one penalty is involved, the latest day on
which any of the penalties becomes final.

(10) No information may be published for the first time after the end of the
period of one year beginning with that day.

(11) 15No information may be published (or continue to be published) after the end
of the period of one year beginning with the day on which it is first
published.

(12) No information may be published if the amount of the penalty—

(a) is reduced under paragraph 15 to the minimum permitted amount
20(being 100% of the offshore PLR), or

(b) is reduced under paragraph 16 to nil or stayed.

(13) For the purposes of this paragraph a penalty becomes final—

(a) if it has been assessed, when the time for any appeal or further
appeal relating to it expires or, if later, any appeal or final appeal
25relating to it is finally determined, and

(b) if a contract settlement has been made, at the time when the contract
is made.

(14) In this paragraph “contract settlement”, in relation to a penalty, means a
contract between the Commissioners and the person under which the
30Commissioners undertake not to assess the penalty or (if it has been
assessed) not to take proceedings to recover it.

30 (1) The Treasury may by regulations amend paragraph 29(2) to vary the amount
for the time being specified in paragraph (b).

(2) Regulations under this paragraph are to be made by statutory instrument.

(3) 35A statutory instrument under this paragraph is subject to annulment in
pursuance of a resolution of the House of Commons.

Part 4 Supplementary

Interpretation: minor

31 (1) 40In this Schedule (apart from the amendments made by Part 3)—

• “HMRC” means Her Majesty’s Revenue and Customs;

Finance (No. 2) BillPage 761

• “tax period” means a tax year or other period in respect of which tax is
  charged (or in the case of inheritance tax, the year beginning with 6
  April and ending on the following 5 April in which the liability to tax
  first arose);

• 5“tax year”, in relation to inheritance tax, means a period of 12 months
  beginning on 6 April and ending on the following 5 April;

• “UK” means the United Kingdom, including its territorial sea.

(2) A reference to making a return or doing anything in relation to a return
includes a reference to amending a return or doing anything in relation to an
10amended return.

(3) References to delivery (of a document) include giving, sending and any
other similar expressions.

(4) A reference to delivering a document to HMRC includes—

(a) a reference to communicating information to HMRC in any form and
15by any method (whether by post, fax, email, telephone or otherwise,
and

(b) a reference to making a statement or declaration in a document.

(5) References to an assessment to tax, in relation to inheritance tax, are to a
determination.

(6) 20An expression used in relation to income tax has the same meaning as in the
Income Tax Acts.

(7) An expression used in relation to capital gains tax has the same meaning as
in the enactments relating to that tax.

(8) An expression used in relation to inheritance tax has the same meaning as in
25IHTA 1984.

Terms defined or explained for purposes of more than one paragraph of this Schedule