Citation and commencement

1. These Regulations may be cited as the Education (Student Loans) (Repayment) (Amendment) Regulations 2008 and come into force on 1st April 2008.

Amendment of the Education (Student Loans) (Repayment) Regulations 2000

2.The Education (Student Loans) (Repayment) Regulations 2000( 3 ) are amended as follows.

3. In regulation 7—

(a) after paragraph (2) insert the following paragraphs—

“ (2A) For years of assessment—

(a) ending on or before 5 April 2008 sections 100 (determination of penalties by officer of Board), 100A (provisions supplementary to section 100) and 100B (appeals against policy determinations) of the 1970 Act shall apply to the penalties outlined in regulation 26(3) in connection with repayments under Part III as they apply in connection with income tax;

(b) commencing on or after 6 April 2008, where the date on which the return is due to be filed is on or after 6 April 2009, Schedule 24 of the Finance Act 2007 (penalties for errors) shall apply in relation to the assessment of penalties and appeals against the assessment of penalties in connection with Part III as it applies to penalties in connection with income tax.

(2B) Sections 100 (determination of penalties by officer of Board), 100A (provisions supplementary to section 100) and 100B (appeals against penalty determinations) of the 1970 Act shall apply to penalties other than those outlined in regulations 26(3) and 26(4) in connection with repayment under Part III and all penalties under Part IV as they apply to penalties in connection with income tax. ”

(b) In paragraph (3) omit “100 and 100A (determination of penalties by officer of Board), 100B (appeals against penalty determinations),”.

4. In regulation 26 for paragraphs (3) and (4) substitute the following—

“ (3) For years of assessment ending on or before 5 April 2008—

(a) section 95 of the 1970 Act (incorrect return or accounts for income tax or capital gains tax) shall apply in relation to anything done for the purposes of or in connection with the ascertainment of liability of a borrower to make a repayment under this Part as it applies for the purposes of or in connection with the ascertainment of liability to income tax, and for that purpose the difference referred to in section 95(2) shall be the difference between—

(i) the amount calculated under regulation 15(1) and

(ii) the amount which would have been the amount so calculated if the return, statement, declaration or accounts as made or submitted by the borrower had been correct.

(b) section 97 (incorrect return or accounts: supplemental) of the 1970 Act shall apply in the case of returns, statements, declarations, accounts, information or documents for the purposes of repayments under this Part as it applies for the purposes of income tax.

(4) For years of assessment commencing on or after 6 April 2008, where the date on which the return is due to be filed is on or after 6 April 2009, Schedule 24 of the Finance Act 2007 (penalties for errors) shall apply—

(a) in relation to anything done for the purposes of or in connection with the ascertainment of liability of a borrower to make a repayment under this Part as it applies for the purposes of or in connection with the ascertainment of liability to income tax;

(b) in the case of returns, statements, declarations, accounts, information or documents for the purposes of repayments under this Part as it applies for the purposes of income tax. ” .