SCHEDULES

SCHEDULE 20 U.K.Penalties in connection with offshore matters and offshore transfers

Penalties for failure to make returns etc U.K.

Prospective

15 (1) Paragraph 6 (penalty for failure continuing 12 months after penalty date) is amended as follows. U.K.

(2) In sub-paragraph (3A)—

(a) before paragraph (a) insert—

“(za) for the withholding of category 0 information, 100%,”, and

(b) in paragraph (a), for “100%” substitute “ 125% ”.

(3) In sub-paragraph (4A)—

(a) before paragraph (a) insert—

“(za) for the withholding of category 0 information, 70%,”, and

(b) in paragraph (a), for “70%” substitute “ 87.5% ”.

(4) In sub-paragraph (6), for “3” substitute “ 4 ”.