SM05050 | Special Measures: Sanctions: Overview and timings

Large businesses (SM02000) that are subject to either a Special Measures Notice or a Confirmed Special Measures Notice can have sanctions applied against them.

• for large businesses subject to a Special Measures Notice, where conditions are met, an inaccuracy in a document given to HMRC will, as a minimum, be regarded as a failure to take reasonable care when assessing penalties under Schedule 24 of the Finance Act 2007

• for large businesses subject to a Confirmation Notice, the Commissioners for HMRC may publish information that identifies the large business as being subject to Special Measures (SM05200)

FA2016/SCH19/PT3/PARA47-49

Sanctions apply from the date a large business becomes subject to a Special Measures Notice or a Confirmation Notice.

Penalties are assessed under Schedule 24, Part 3 of the Finance Act 2007.

FA2007/SCH24/PT3/PARA13

FA2016/SCH19/PT3/PARA47-49