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Changes over time for: Paragraph 4
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Status:
Point in time view as at 06/04/2011.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2010, Paragraph 4.
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This section has no associated Explanatory Notes
4U.K.In paragraph 12 (interaction with other penalties), for sub-paragraph (4) substitute—
“(4)Where penalties are imposed under paragraphs 1 and 1A in respect of the same inaccuracy, the aggregate of the amounts of the penalties must not exceed the relevant percentage of the potential lost revenue.
(5)The relevant percentage is—
(a)if the penalty imposed under paragraph 1 is for an inaccuracy in category 1, 100%,
(b)if the penalty imposed under paragraph 1 is for an inaccuracy in category 2, 150%, and
(c)if the penalty imposed under paragraph 1 is for an inaccuracy in category 3, 200%.”
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