CH111200 - Offshore matters: introduction: commencement date for penalties involving overseas matters

The specific type of penalty will determine which tax regimes are liable to the penalty and the date on which these penalties can be applied from.

Failure to file on time penalties

The section at CH112000 currently only applies to returns

• for income tax, capital gains tax and registered pension schemes, that involve an offshore matter, and
• where the relevant filing obligation arises on or after 6 April 2012.

It does not apply to the Construction Industry Scheme (CIS), see CH62300+.

Failure to notify penalties

The section at CH114000 currently only applies only where

• the tax at stake is income tax or capital gains tax, and
• the failure to notify involves an offshore matter, and
• the relevant obligation arises on or after 6 April 2012.

Penalties for inaccuracies

The section at CH116000 currently only applies only where

• the tax at stake is income tax, capital gains tax or inheritance tax, and
• the inaccuracy involves an offshore matter, and
• the person gave HMRC an inaccurate return or other document which relates to 2011-12 or a later year on or after 6 April 2011.

It does not apply to the Construction Industry Scheme (CIS), see CH62300+.