Finance Act 2008, Paragraph 6 is up to date with all changes known to be in force on or before 01 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.
[F16(1)This paragraph sets out the penalty payable under paragraph 1.U.K.
(2)If the failure is in category 1, the penalty is—
(a)for a deliberate and concealed failure, 100% of the potential lost revenue,
(b)for a deliberate but not concealed failure, 70% of the potential lost revenue, and
(c)for any other case, 30% of the potential lost revenue.
(3)If the failure is in category 2, the penalty is—
(a)for a deliberate and concealed failure, 150% of the potential lost revenue,
(b)for a deliberate but not concealed failure, 105% of the potential lost revenue, and
(c)for any other case, 45% of the potential lost revenue.
(4)If the failure is in category 3, the penalty is—
(a)for a deliberate and concealed failure, 200% of the potential lost revenue,
(b)for a deliberate but not concealed failure, 140% of the potential lost revenue, and
(c)for any other case, 60% of the potential lost revenue.
(5)Paragraph 6A explains the 3 categories of failure.]
Textual Amendments
F1Sch. 41 paras. 6-6D substituted for Sch. 41 para. 6 (6.4.2011) by Finance Act 2010 (c. 13), s. 35(2), Sch. 10 para. 8; S.I. 2011/975, art. 2(1) (with art. 4)
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
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