SCHEDULES
SCHEDULE 28Follower notice penalties
PART 2Amendments consequential on Part 1
FA 2014
12
1
In Schedule 31, paragraph 5 is amended as follows.
2
In sub-paragraph (2)—
a
in paragraph (a), for “20%” substitute “
12%
”
;
b
after paragraph (a), insert—
aa
the total amount of the penalties under section 208A(3) for which the relevant partners are liable is 8% of the value of the denied advantage,
c
in paragraph (b), after “the penalty” insert “
under section 208(2) or 208A(3) (as modified by this paragraph)
”
.
3
In sub-paragraph (5), after “penalties” insert “
under section 208(2) (as modified by this paragraph)
”
.
4
In sub-paragraph (6), after “paragraph 4(2)” insert “
or 4A
”
.
5
In sub-paragraph (7)(a), after “penalties” insert “
under section 208(2)
”
.
6
After sub-paragraph (9), insert—
9A
The right of appeal under section 214A extends to—
a
a decision that penalties under section 208A(3) are payable by the relevant partners by virtue of this paragraph, and
b
a decision as to the total amount of those penalties payable by those partners,
but not to a decision as to the appropriate share of, or the amount of a penalty payable by, a relevant partner.
9B
Section 214A(3) applies to an appeal by virtue of sub-paragraph (9A)(a) as it applies to an appeal under section 214A(1).
9C
Section 214A(5) applies to an appeal by virtue of sub-paragraph (9A)(a), and section 214A(6) to an appeal by virtue of sub-paragraph (9A)(b).
7
In sub-paragraph (11), after “(2)(a)” insert “
and (aa)
”
.