Assessment of penalties

(1) If a person becomes liable to a penalty under section 20, the competent authority shall– (a) assess the penalty; and (b) notify the person of the assessment. (2) An assessment of a penalty under sub-section (1) shall be made within the period of twelve months beginning with the date on which– (a) the person became liable to the penalty; or (b) the inaccuracy first came to the attention of that competent authority.