At the beginning insert—

“A1

In this paragraph, “relevant information” means information which has been withheld by a failure to make a return.”

After sub-paragraph (1) insert—

“(1A)

Paragraph 15A provides for reductions in the penalty under paragraph 6(3) or (4) where P discloses relevant information that involves an offshore matter or an offshore transfer.

(1B)

Sub-paragraph (2) applies where—

(a)

P is liable to a penalty under paragraph 6(3) or (4) and P discloses relevant information that involves a domestic matter, or

(b)

P is liable to a penalty under any of the other provisions mentioned in sub-paragraph (1) and P discloses relevant information.”

After sub-paragraph (2) insert—

“(2A)

Sub-paragraph (2B) applies where P is liable to a penalty under paragraph 6(3) or (4) and P discloses relevant information that involves an offshore matter or an offshore transfer.

(2B)

P discloses relevant information by—

(a)

telling HMRC about it,

(b)

giving HMRC reasonable help in quantifying any tax unpaid by reason of its having been withheld,

(c)

allowing HMRC access to records for the purpose of checking how much tax is so unpaid, and

(d)

providing HMRC with additional information.

(2C)

The Treasury must make regulations setting out what is meant by “additional information” for the purposes of sub-paragraph (2B)(d).

(2D)

Regulations under sub-paragraph (2C) are to be made by statutory instrument.

(2E)

An instrument containing regulations under sub-paragraph (2C) is subject to annulment in pursuance of a resolution of the House of Commons.”

At the end insert—

“(5)

Paragraph 6A(4) to (5) applies to determine whether relevant information involves an offshore matter, an offshore transfer or a domestic matter for the purposes of this paragraph.”