Maximum amount of reduction of the standard amount of the asset-based penalty for disclosure and co-operation

2.  The maximum amount by which the standard amount of the asset-based penalty determined in accordance with paragraph 7 of Schedule 22 to the Finance Act 2016 (standard amount of asset-based penalty) may be reduced as required by paragraph 8 of that Schedule (reductions for disclosure and co-operation) is—

(a) 50% of the standard amount in a case involving only unprompted disclosures, and

(b) 20% of the standard amount in a case involving prompted disclosures.