F(No.2)B 2010–11: compliance provisions

Finance (No. 2) Bill 2010–11 contains five schedules of new material on tax administration. These are all part of the ongoing implementation of the conclusions of HMRC's Review of Powers Deterrents and Safeguards which was started five years ago.

This Review is now well into the implementation phase with many of the key provisions already in force. Key provisions are the rules on: Penalties for Errors in FA 2007 Sch 24 Information and Inspection Powers in FA 2008 Sch 36 Recovery of Overpaid Tax in FA 2009 Sch 52 and the enabling rules for a harmonised interest regime in FA 2009 ss 101–105 and Sch 53. Finance (No. 2) Bill 2010–11 builds on these existing provisions extending their coverage across the taxes. The legislation (Schedules 9 to 13) is arranged by subject matter. It affects...