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8After paragraph 13 insert—
“13A(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.
(2)But the standard percentage may not be reduced to a percentage that is below the minimum shown for it—
(a)for a prompted disclosure, in column 2 of the Table, and
(b)for an unprompted disclosure, in column 3 of the Table.
(3)Where the Table shows a different minimum for case A and case B—
(a)the case A minimum applies if HMRC becomes aware of the failure less than 12 months after the time when the tax first becomes unpaid by reason of the failure;
(b)otherwise, the case B minimum applies.
Standard % | Minimum % for prompted disclosure | Minimum % for unprompted disclosure |
---|---|---|
30% | case A: 10% | case A: 0% |
case B: 20% | case B: 10% | |
37.5% | case A: 12.5% | case A: 0% |
case B: 25% | case B: 12.5% | |
45% | case A: 15% | case A: 0% |
case B: 30% | case B:15% | |
60% | case A: 20% | case A: 0% |
case B: 40% | case B: 20% | |
70% | 45% | 30% |
87.5% | 53.75% | 35% |
100% | 60% | 40% |
105% | 62.5% | 40% |
125% | 72.5% | 50% |
140% | 80% | 50% |
150% | 85% | 55% |
200% | 110% | 70%” |
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