SCHEDULES
C1C3C2SCHEDULE 55Penalty for failure to make returns etc
Sch. 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))
Sch. 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)))
Special reduction
I1C3C216
1
If HMRC think it right because of special circumstances, they may reduce a penalty under any paragraph of this Schedule.
2
In sub-paragraph (1) “special circumstances” does not include—
a
ability to pay, or
b
the fact that a potential loss of revenue from one taxpayer is balanced by a potential over-payment by another.
3
In sub-paragraph (1) the reference to reducing a penalty includes a reference to—
a
staying a penalty, and
b
agreeing a compromise in relation to proceedings for a penalty.
Sch. 55 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 38