15(1)[F1Where a person who would otherwise be liable to a 100% penalty has made an unprompted disclosure, HMRC must reduce the 100% to a percentage, not below 30%, which reflects the quality of the disclosure.]U.K.
[F1If 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)[F1Where a person who would otherwise be liable to a 100% penalty has made a prompted disclosure, HMRC must reduce the 100% to a percentage, not below 50%, which reflects the quality of the disclosure.]
[F1But 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 |
|---|---|---|
| 70% | 35% | 20% |
| 100% | 50% | 30%] |
(3)[F3Where a person who would otherwise be liable to a 70% penalty has made an unprompted disclosure, HMRC must reduce the 70% to a percentage, not below 20%, which reflects the quality of the disclosure.]
(4)[F4Where a person who would otherwise be liable to a 70% penalty has made a prompted disclosure, HMRC must reduce the 70% to a percentage, not below 35%, which reflects the quality of the disclosure.]
(5)But HMRC must not under this paragraph—
(a)reduce a penalty under paragraph 6(3) or (4) below £300, or
(b)reduce a penalty under [F5paragraph 11(3) or (4)][F5sub-paragraph (3) or (4) of any of paragraphs 11, 13E and 13J] below the amount set by [F6paragraph 11(3)(b) or (4)(b) (as the case may be)][F6paragraph (b) of that sub-paragraph].
Textual Amendments
F1Sch. 55 para. 15(1)(2) substituted (6.4.2011 for specified purposes) by Finance Act 2010 (c. 13), s. 35(2), Sch. 10 para. 13(2); S.I. 2011/975, art. 2(2) (with art. 5)
F2Sch. 55 para. 15(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. 11; S.I. 2017/259, reg. 2
F3Sch. 55 para. 15(3) omitted (6.4.2011 for specified purposes) by virtue of Finance Act 2010 (c. 13), s. 35(2), Sch. 10 para. 13(3); S.I. 2011/975, art. 2(2) (with art. 5)
F4Sch. 55 para. 15(4) omitted (6.4.2011 for specified purposes) by virtue of Finance Act 2010 (c. 13), s. 35(2), Sch. 10 para. 13(3); S.I. 2011/975, art. 2(2) (with art. 5)
F5Words in Sch. 55 para. 15(5) substituted (12.2.2019 for specified purposes) by Finance (No. 3) Act 2010 (c. 33), s. 26(2), Sch. 10 para. 9(a); 2019 c. 1, s. 67(2)
F6Words in Sch. 55 para. 15(5) substituted (12.2.2019 for specified purposes) by Finance (No. 3) Act 2010 (c. 33), s. 26(2), Sch. 10 para. 9(b); 2019 c. 1, s. 67(2)
Commencement Information
I1Sch. 55 para. 15 in force at 1.4.2011 for specified purposes and 6.4.2011 for specified purposes by S.I. 2011/702, art. 2 (with art. 1(2))
I2Sch. 55 para. 15 in force at 6.10.2011 for specified purposes by S.I. 2011/2391, art. 2(b) (with art. 3(1)(2))
I3Sch. 55 para. 15 in force at 6.4.2018 for specified purposes by S.I. 2018/468, art. 2(b)
I4Sch. 55 para. 15 in force at 12.2.2019 for specified purposes by 2019 c. 1, Sch. 2 para. 29(3)
I5Sch. 55 para. 15 in force at 1.4.2022 for specified purposes by S.I. 2021/1409, reg. 2(b)