SCHEDULES
C1C2C3C4SCHEDULE 38Tax agents: dishonest conduct
Sch. 38 applied (with application in accordance with reg. 1(2) of the amending S.I.) by The Social Security (Contributions) (Amendment and Application of Schedule 38 to the Finance Act 2012) Regulations 2013 (S.I. 2013/622), regs. 1, 41
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)
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
Special reduction
I127
1
This paragraph applies if HMRC propose to assess an individual to a penalty under paragraph 26 of £5,000.
2
If they think it right because of special circumstances, HMRC may take one or more of the following steps—
a
reduce the penalty to an amount below £5,000 (which may be nil),
b
stay the penalty, or
c
agree a compromise in relation to proceedings for the penalty.
3
“Special circumstances” does not include—
a
ability to pay, or
b
the fact that a loss of tax revenue from a client is balanced by an over-payment by another person (whether or not a client).
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)