Amount of penalty: standard amountU.K.
6(1)The penalty payable under any of paragraphs 1, 2, 3(1) and 4 is—U.K.
(a)for a deliberate and concealed act or failure, 100% of the potential lost revenue,
(b)for a deliberate but not concealed act or failure, 70% of the potential lost revenue, and
(c)for any other case, 30% of the potential lost revenue.
(2)The penalty payable under paragraph 3(2) is 100% of the potential lost revenue.
(3)Paragraphs 7 to 11 define “the potential lost revenue”.
Commencement Information
I1Sch. 41 para. 6 in force at 1.4.2010 with effect in accordance with art. 3 by S.I. 2009/511, art. 2