Section 121 | Penalties in connection with offshore asset moves

Schedule 21 contains provision for imposing an additional penalty in cases where—

(a)a person is liable for a penalty for a failure to comply with an obligation or provide a document, or for providing an inaccurate document, relating to income tax, capital gains tax or inheritance tax, and

(b)there is a related transfer of, or change in the ownership arrangements for, an asset situated or held outside the United Kingdom.