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SCHEDULES

SCHEDULE 38U.K.Tax agents: dishonest conduct

Modifications etc. (not altering text)

C1Sch. 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)

C3Sch. 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)

C4Sch. 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 4 U.K.Sanctions for dishonest conduct

Special reductionU.K.

27(1)This paragraph applies if HMRC propose to assess an individual to a penalty under paragraph 26 of £5,000.U.K.

(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).

Commencement Information

I1Sch. 38 para. 27 in force at 1.4.2013 by S.I. 2013/279, art. 2