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Finance Act 2008

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Changes to legislation:

Finance Act 2008, Paragraph 13A is up to date with all changes known to be in force on or before 31 January 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. Help about Changes to Legislation

[F113A(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)for a prompted disclosure, in column 2 of the Table, and

(b)for an unprompted disclosure, in column 3 of the Table.

(3)Where the Table shows a different minimum for case A and case B—

(a)the case A minimum applies if HMRC becomes aware of the failure less than 12 months after the time when the tax first becomes unpaid by reason of the failure;

(b)otherwise, the case B minimum applies.

Standard %Minimum % for prompted disclosureMinimum % for unprompted disclosure
30%

case A: 10%

case B: 20%

case A: 0%

case B: 10%

37.5%

case A: 12.5%

case B: 25%

case A: 0%

case B: 12.5%

45%

case A: 15%

case B: 30%

case A: 0%

case B:15%

60%

case A: 20%

case B: 40%

case A: 0%

case B: 20%

70%45%30%
87.5%53.75%35%
100%60%40%
105%62.5%40%
125%72.5%50%
140%80%50%
150%85%55%
200%110%70%]

Textual Amendments

F1Sch. 41 para. 13A inserted (with effect in accordance with reg. 2 of the commencing S.I.) by Finance Act 2016 (c. 24), s. 163(2), Sch. 21 para. 8; S.I. 2017/259, reg. 2

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