C2C1C3C4C5PART 4Follower notices and accelerated payments
Pt. 4 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)
Pt. 4 modified (12.4.2015) by National Insurance Contributions Act 2015 (c. 5), Sch. 2 Pt. 1 (with Sch. 2 paras. 33, 35)
Pt. 4 applied (with modifications) by Social Security Contributions and Benefits Act 1992 (c. 4), s. 16(1)(d) (as inserted (12.4.2015) by National Insurance Contributions Act 2015 (c. 5), Sch. 2 para. 32)
Pt. 4 applied (with modifications) (retrospective) by 1970 c. 9, s. 12ABZAA(4) (as inserted (17.7.2014) by 2020 c. 14, s. 104(1)(2) (with s. 104(3)))
CHAPTER 2Follower notices
Penalties
210Reduction of a section 208 penalty for co-operation
1
Where—
a
P is liable to pay a penalty under section 208 of the amount specified in section 209(1),
b
the penalty has not yet been assessed, and
c
P has co-operated with HMRC,
HMRC may reduce the amount of that penalty to reflect the quality of that co-operation.
2
In relation to co-operation, “quality” includes timing, nature and extent.
3
P has co-operated with HMRC only if P has done one or more of the following—
a
provided reasonable assistance to HMRC in quantifying the tax advantage;
b
counteracted the denied advantage;
c
provided HMRC with information enabling corrective action to be taken by HMRC;
d
provided HMRC with information enabling HMRC to enter an agreement with P for the purpose of counteracting the denied advantage;
e
allowed HMRC to access tax records for the purpose of ensuring that the denied advantage is fully counteracted.
4
But nothing in this section permits HMRC to reduce a penalty to less than 10% of the value of the denied advantage.
Pt. 4 applied (with modifications) by 1992 c. 7 (N.I.), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)