SCHEDULES

SCHEDULE 16Penalties for enablers of defeated tax avoidance

PART 5Amount of penalty

Mitigation of penalty

18

(1)

HMRC may in their discretion reduce a penalty under paragraph 1.

(2)

In this paragraph the reference to reducing a penalty includes a reference to—

(a)

entirely remitting the penalty, or

(b)

staying, or agreeing a compromise in relation to, proceedings for the recovery of a penalty.