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Finance Act 2022
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Amount of a penalty under paragraph 2, 3 or 4
5(1)The amount of a penalty to which a person is liable under paragraph 2, 3 or 4 is such amount, not exceeding £50,000, as an authorised HMRC officer considers appropriate.
(2)In determining the amount of a penalty under paragraph 2, 3 or 4, the officer—
(a)must take into account any matter specified in a notice published by HMRC, so far as that matter is relevant, and
(b)may take into account any other matter, so far as the officer considers it appropriate to do so.
(3)“Authorised HMRC officer” means an officer of Revenue and Customs who is, or is a member of a class of officers who are, authorised by the Commissioners for Her Majesty’s Revenue and Customs for the purposes of this paragraph.
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