Finance (No. 2) Act 2017 (c. 32)

SCHEDULES

SCHEDULE 18 U.K. Requirement to correct certain offshore tax non-compliance

PART 1 U.K. Liability for penalty for failure to correct

“Relevant offshore tax non-compliance” U.K.

5 U.K. Condition B is that—

(a) the original offshore tax non-compliance involved a potential loss of revenue when it was committed, and

(b) if the original offshore tax non-compliance has been corrected in part by the end of the tax year 2016-17, the uncorrected part at that time involved a potential loss of revenue.