.png)
.png)
Who dunnit?
HMRC’s penalty regime introduced in FA 2007 Sch 24 and FA 2008 Sch 41 has been the centre of much discussion since its inception. It has significantly enhanced HMRC powers and given the department a new weapon as part of its compliance toolbox. This is the ability to transfer the liability to pay a penalty from a company to its officers by issuing a personal liability notice (PLN).
This may be seen as a significant measure allowing HMRC in effect to pierce the corporate veil and recoup penalties from individuals but these powers may only be exercised under the following limited circumstances:
- a company is liable to a penalty for deliberate wrongdoing; and
- the wrongdoing is attributable to the deliberate action of an officer or officers of the company; and
- the officer gained or attempted to...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
