No versions valid at: 01/03/2024
Point in time view as at 01/03/2024.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.
There are currently no known outstanding effects for the Finance Act 2021, Cross Heading: Special reduction.
Valid from 06/04/2024
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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