4After paragraph 10 insert—
“10A(1)If a person who would otherwise be liable to a penalty of a percentage shown in column 1 of the Table (a “standard percentage”) has made a disclosure, HMRC must reduce the standard percentage to one that reflects the quality of the disclosure.
(2)But the standard percentage may not be reduced to a percentage that is below the minimum shown for it—
(a)in the case of a prompted disclosure, in column 2 of the Table, and
(b)in the case of an unprompted disclosure, in column 3 of the Table.
| Standard % | Minimum % for prompted disclosure | Minimum % for unprompted disclosure |
|---|---|---|
| 30% | 15% | 0% |
| 37.5% | 18.75% | 0% |
| 45% | 22.5% | 0% |
| 60% | 30% | 0% |
| 70% | 45% | 30% |
| 87.5% | 53.75% | 35% |
| 100% | 60% | 40% |
| 105% | 62.5% | 40% |
| 125% | 72.5% | 50% |
| 140% | 80% | 50% |
| 150% | 85% | 55% |
| 200% | 110% | 70%” |