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Finance Act 2021

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Changes over time for: Cross Heading: Special reduction

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No versions valid at: 01/03/2024

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Point in time view as at 01/03/2024. This version of this cross heading contains provisions that are not valid for this point in time. Help about Status

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There are currently no known outstanding effects for the Finance Act 2021, Cross Heading: Special reduction. Help about Changes to Legislation

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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