SCHEDULES

C1C2C3C4SCHEDULE 38Tax agents: dishonest conduct

Annotations:
Modifications etc. (not altering text)
C1

Sch. 38 applied by S.I. 2009/470, reg. 33(1) (as substituted (6.4.2013) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2013 (S.I. 2013/607), regs. 1(1), 9)

C3

Sch. 38 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 24(2)

C4

Sch. 38 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 43(1)

PART 4Sanctions for dishonest conduct

Penalty for dishonest conduct

I126

1

An individual who engages in dishonest conduct is liable to a penalty.

2

Subject to paragraph 27, the penalty to which the individual is liable is to be—

a

no less than £5,000, and

b

no more than £50,000.

3

In assessing the amount of the penalty, regard must be had to—

a

whether the individual disclosed the dishonest conduct,

b

whether that disclosure was prompted or unprompted,

c

the quality of that disclosure, and

d

the quality of the individual's compliance with any file access notice in connection with the dishonest conduct.

4

An individual “discloses” dishonest conduct by—

a

telling HMRC about it,

b

giving HMRC reasonable help in identifying the client or clients concerned and in quantifying the loss of tax revenue (if any) brought about by it, and

c

allowing HMRC access to records for the purpose of ensuring that any such loss is recovered or otherwise properly accounted for.

5

A disclosure is “unprompted” if it is made at a time when the individual has no reason to believe that HMRC have discovered or are about to discover the dishonest conduct.

6

Otherwise, a disclosure is “prompted”.

7

In relation to disclosure or compliance, “quality” includes timing, nature and extent.