xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
3U.K.For paragraph 10 substitute—
“10(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.
(2)But 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.
Standard % | Minimum % for prompted disclosure | Minimum % for unprompted disclosure |
---|---|---|
30% | 15% | 0% |
45% | 22.5% | 0% |
60% | 30% | 0% |
70% | 35% | 20% |
105% | 52.5% | 30% |
140% | 70% | 40% |
100% | 50% | 30% |
150% | 75% | 45% |
200% | 100% | 60%”. |