Version Superseded: 01/04/2017
Point in time view as at 17/12/2014.
Finance Act 2007, Paragraph 10 is up to date with all changes known to be in force on or before 08 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[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.
| Standard % | Minimum % for prompted disclosure | Minimum % for unprompted disclosure |
|---|---|---|
| 30% | 15% | 0% |
| 45% | 22.5% | 0% |
| 60% | 30% | 0% |
| 70% | 35% | 20% |
| 105% | 52.5% | 30% |
| 140% | 70% | 40% |
| 100% | 50% | 30% |
| 150% | 75% | 45% |
| 200% | 100% | 60%] |
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)
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