This is the original version (as it was originally enacted).
27(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).
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