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Finance Act 2016

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8After paragraph 13 insert—E+W+S+N.I.

13A(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)for a prompted disclosure, in column 2 of the Table, and

(b)for an unprompted disclosure, in column 3 of the Table.

(3)Where the Table shows a different minimum for case A and case B—

(a)the case A minimum applies if HMRC becomes aware of the failure less than 12 months after the time when the tax first becomes unpaid by reason of the failure;

(b)otherwise, the case B minimum applies.

Standard %Minimum % for prompted disclosureMinimum % for unprompted disclosure
30%

case A: 10%

case B: 20%

case A: 0%

case B: 10%

37.5%

case A: 12.5%

case B: 25%

case A: 0%

case B: 12.5%

45%

case A: 15%

case B: 30%

case A: 0%

case B:15%

60%

case A: 20%

case B: 40%

case A: 0%

case B: 20%

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%
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Commencement Information

I1Sch. 21 para. 8 in force at 1.4.2017 with effect in accordance with reg. 2 by S.I. 2017/259, reg. 2

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