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Finance Act 2009, Cross Heading: Reductions for disclosure is up to date with all changes known to be in force on or before 06 September 2024. 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.
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14(1)Paragraph 15 provides for reductions in the penalty under paragraph 6(3) or (4) or 11(3) or (4) where P discloses information which has been withheld by a failure to make a return (“relevant information”).U.K.
(2)P discloses relevant information by—
(a)telling HMRC about it,
(b)giving HMRC reasonable help in quantifying any tax unpaid by reason of its having been withheld, and
(c)allowing HMRC access to records for the purpose of checking how much tax is so unpaid.
(3)Disclosure of relevant information—
(a)is “unprompted” if made at a time when P has no reason to believe that HMRC have discovered or are about to discover the relevant information, and
(b)otherwise, is “prompted”.
(4)In relation to disclosure “quality” includes timing, nature and extent.
Modifications etc. (not altering text)
C1Sch. 55 applied by S.R. 2009/128, reg. 35 (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2011 (S.R. 2011/137), regs. 1(1), 8(a) (with reg. 12))
C2Sch. 55 applied by S.I. 2009/470, reg. 40(1)(2) (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2011 (S.I. 2011/784), regs. 1(1), 9 (with reg. 12(2)))
Commencement Information
I1 Sch. 55 para. 14 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. 14 in force at 6.10.2011 for specified purposes by S.I. 2011/2391, art. 2(b) (with art. 3(1)(2))
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.]
(3)[F2Where 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)[F3Where 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 paragraph 11(3) or (4) below the amount set by paragraph 11(3)(b) or (4)(b) (as the case may be).
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(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)
F3Sch. 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)
Commencement Information
I3Sch. 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))
I4Sch. 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))
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