CH122700 - Offshore matters: asset-based penalties: assessment process
When assessing a taxpayer for an asset-based penalty HMRC must:
- assess the penalty, and
- notify the taxpayer.
The notice must include:
- the year to which the penalty relates, and
- the investigation period within which that tax year falls. For more information on investigation periods, see CH122180.
A penalty must be paid within 30 days of the penalty notification being issued.