HC Deb 25 March 1991 vol 188 cc715-6

Resolved,

That—

(1) In section 14(1) of the Finance Act 1985, for "30 per cent." there shall be substituted "20 per cent.".

(2) Subject to paragraph (3) below, this Resolution shall apply where a penalty is assessed on or after 20th March 1991 in relation to a prescribed accounting period beginning on or after 1st April 1990.

(3) This Resolution shall not apply in the case of a supplementary assessment if the original assessment was made before 20th March 1991.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.