4U.K.After paragraph 10 insert—
“10A(1)If a person who would otherwise be liable to a penalty of a percentage shown in column 1 of the Table (a “standard percentage”) has made a disclosure, HMRC must reduce the standard percentage to one that reflects the quality of the disclosure.
(2)But the standard percentage may not be reduced to a percentage that is below the minimum shown for it—
(a)in the case of a prompted disclosure, in column 2 of the Table, and
(b)in the case of an unprompted disclosure, in column 3 of the Table.
Standard % | Minimum % for prompted disclosure | Minimum % for unprompted disclosure |
---|---|---|
30% | 15% | 0% |
37.5% | 18.75% | 0% |
45% | 22.5% | 0% |
60% | 30% | 0% |
70% | 45% | 30% |
87.5% | 53.75% | 35% |
100% | 60% | 40% |
105% | 62.5% | 40% |
125% | 72.5% | 50% |
140% | 80% | 50% |
150% | 85% | 55% |
200% | 110% | 70%” |
Commencement Information
I1Sch. 21 para. 4 in force at 1.4.2017 with effect in accordance with reg. 2 by S.I. 2017/259, reg. 2