Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 47

Amendments to time limit for assessment of penalties

Schedule 23, paragraph 47 makes minor technical amendments to section 128 of the Tax Collection and Management (Wales) Act 2016, which sets the time limit within which WRA may assess penalties for failure to make returns or pay tax.

• This paragraph amends section 128 of the Tax Collection and Management (Wales) Act 2016, which governs the deadline for WRA to assess penalties under Chapter 2 of that Act.
• Subsection (1) is amended by removing the words "in respect of any amount", broadening the application of the time limit provision.
• Subsection (4) is corrected by updating an internal cross-reference from "122(2)" to "122(3)", ensuring it points to the correct provision.
• Subsection (5) is simplified by removing the words "the later of the following periods", streamlining the drafting of the time limit rule.