8(1)If a person who would otherwise be liable to a penalty of a percentage shown in column 1 of the Table in this paragraph (a “standard percentage”) has made a disclosure, HMRC must reduce the standard percentage to one that reflects the quality of the disclosure.U.K.
(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 percentage | Minimum percentage for prompted disclosure | Minimum percentage for unprompted disclosure |
---|---|---|
70% | 45% | 30% |
100% | 60% | 40% |
105% | 62.5% | 40% |
140% | 80% | 50% |
150% | 85% | 55% |
200% | 110% | 70% |
(3)But HMRC must not under this paragraph reduce a penalty below £300.
Commencement Information
I1Sch. 25 para. 8 in force at 6.4.2024 for specified purposes by S.I. 2024/440, reg. 2(1)