Search Legislation

Finance Act 2020

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Cross Heading: Special reduction

 Help about opening options

Alternative versions:

Status:

Point in time view as at 01/10/2021.

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 2020, Cross Heading: Special reduction. Help about Changes to Legislation

Special reductionU.K.

57(1)If HMRC think it right because of special circumstances, they may reduce a penalty under this Part of this Schedule.U.K.

(2)In sub-paragraph (1) “special circumstances” does not include—

(a)ability to pay, or

(b)the fact that a potential loss of revenue from one taxpayer is balanced by a potential over-payment by another.

(3)In sub-paragraph (1) the reference to reducing a penalty includes a reference to—

(a)staying a penalty, and

(b)agreeing a compromise in relation to proceedings in respect of a penalty.

Back to top

Options/Help