[F110(1)If a person who would otherwise be liable to a penalty of a percentage shown in column 1 of the Table (a “standard percentage”) has made a disclosure, HMRC must reduce the standard percentage to one that reflects the quality of the disclosure.U.K.
(2)But the standard percentage may not be reduced to a percentage that is below the minimum shown for it—
(a)in the case of a prompted disclosure, in column 2 of the Table, and
(b)in the case of an unprompted disclosure, in column 3 of the Table.
| [F2Standard % | Minimum % for prompted disclosure | Minimum % for unprompted disclosure |
|---|---|---|
| 30% | 15% | 0% |
| 70% | 35% | 20% |
| 100% | 50% | 30%]] |
Textual Amendments
F1Sch. 24 para. 10 substituted (6.4.2011) by Finance Act 2010 (c. 13), s. 35(2), Sch. 10 para. 3; S.I. 2011/975, art. 2(1) (with art. 3)
F2Sch. 24 para. 10(2) Table substituted (with effect in accordance with reg. 2 of the commencing S.I.) by Finance Act 2016 (c. 24), s. 163(2), Sch. 21 para. 3; S.I. 2017/259, reg. 2