CH119200 – Offshore matters: asset moves penalties: action to take

On 12/12/2024, the Her Majesty’s Revenue and Customs (HMRC) issued an update regarding CH119200 - Offshore matters: asset moves penalties: action to take. This update states that any action related to a penalty under Schedule 21 FA 2015 must be referred to the Technical specialist team before taking further action. The team's permission is required for assessing or settling the penalty, which can be enforced in the same way as an assessment 'to tax'.