SCHEDULES

SCHEDULE 24 U.K.Penalties for errors

Modifications etc. (not altering text)

C1 Sch. 24 applied (N.I.) (1.4.2008) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2000 (S.R. 2000/121), regs. 7(2A)(b), 26(4) (as amended by S.R. 2008/129, regs. 1, 3(a), 4)

C2 Sch. 24 applied (6.4.2008) by The Social Security (Contributions) Regulations 2001 (S.I. 2001/1004), Sch. 4 paras. 22(7), 31(8) (as amended by The Social Security (Contributions) (Amendment No. 3) Regulations 2008 (S.I. 2008/636), regs. 1(3)(b), 7)

Part 2 U.K.Amount of penalty

Reductions for disclosure U.K.

9 [F1 (A1)Paragraph 10 provides for reductions in penalties under paragraphs 1, 1A and 2 where a person discloses an inaccuracy, a supply of false information or withholding of information, or a failure to disclose an under-assessment.] U.K.

(1) A person discloses an inaccuracy[F2 , a supply of false information or withholding of information,] or a failure to disclose an under-assessment by—

(a) telling HMRC about it,

(b) giving HMRC reasonable help in quantifying the inaccuracy [F3 , the inaccuracy attributable to the supply or false information or withholding of information, or the] under-assessment, and

(c) allowing HMRC access to records for the purpose of ensuring that the inaccuracy[F4 , the inaccuracy attributable to the supply or false information or withholding of information, or the] under-assessment is fully corrected.

(2) Disclosure—

(a) is “unprompted” if made at a time when the person making it has no reason to believe that HMRC have discovered or are about to discover the inaccuracy[F5 , the supply of false information or withholding of information, or the under-assessment], and

(b) otherwise, is “prompted”.

(3) In relation to disclosure “quality” includes timing, nature and extent.

Textual Amendments

F1 Sch. 24 para. 9(A1) inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 9(2); S.I. 2009/571, art. 2

F2 Words in Sch. 24 para. 9(1) inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 9(3)(a); S.I. 2009/571, art. 2

F3 Words in Sch. 24 para. 9(1)(b) substituted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 9(3)(b); S.I. 2009/571, art. 2

F4 Words in Sch. 24 para. 9(1)(c) substituted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 9(3)(b); S.I. 2009/571, art. 2

F5 Words in Sch. 24 para. 9(2)(a) substituted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 9(4); S.I. 2009/571, art. 2

Commencement Information

I1 Sch. 24 para. 9 in force at 1.4.2008 for certain purposes, 1.7.2008 for certain purposes, 1.1.2009 for certain purposes, and 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)