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Finance Act 2020

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Changes over time for: Cross Heading: Special reduction

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Point in time view as at 01/10/2021.

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There are currently no known outstanding effects for the Finance Act 2020, Cross Heading: Special reduction. Help about Changes to Legislation

Special reductionU.K.

57(1)If HMRC think it right because of special circumstances, they may reduce a penalty under this Part of this Schedule.U.K.

(2)In sub-paragraph (1) “special circumstances” does not include—

(a)ability to pay, or

(b)the fact that a potential loss of revenue from one taxpayer is balanced by a potential over-payment by another.

(3)In sub-paragraph (1) the reference to reducing a penalty includes a reference to—

(a)staying a penalty, and

(b)agreeing a compromise in relation to proceedings in respect of a penalty.

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