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Finance Act 2021
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- UK Public General Acts
- 2021 c. 26
- SCHEDULE 25
- PART 2
- Special reduction
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Valid from 06/04/2024
Special reductionU.K.
9(1)If HMRC think it right because of special circumstances, they may reduce a penalty under 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 a taxpayer is balanced by a potential over-payment by a taxpayer.
(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 for a penalty.
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