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Finance (No. 2) Act 2017
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- UK Public General Acts
- 2017 c. 32
- SCHEDULE 18
- PART 2
- Amount of penalty
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Amount of penaltyU.K.
14(1)The penalty payable under paragraph 1 is 200% of the offshore PLR attributable to the uncorrected offshore tax non-compliance (subject to any reduction under a provision of this Part of this Schedule).U.K.
(2)In this Part of this Schedule “the uncorrected offshore tax non-compliance” means—
(a)the relevant offshore tax non-compliance, in a case where none of it is corrected within the RTC period, or
(b)so much of the relevant offshore tax non-compliance as has not been corrected within the RTC period, in a case where part of it is corrected within that period.
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