Finance (No. 2) Act 2017

Power to publish details

47 (1) A penalty is a “reckonable penalty” for the purposes of paragraph 46 if—

(a) it is a penalty under paragraph 1 which becomes final at the same time as, or before, the penalty mentioned in paragraph 46(1),

(b) its entry date and the entry date of the penalty mentioned in paragraph 46(1) are not more than 12 months apart, and

(c) it is not a penalty which under paragraph 48(1) is to be disregarded.

(2) For the purposes of this paragraph the “entry date” of a penalty under paragraph 1 is the date (or, if more than one, the latest date) on which the arrangements concerned or any agreement or transaction forming part of those arrangements was entered into by the taxpayer.

(3) In sub-paragraph (2)—

• “the arrangements concerned” means the arrangements to which the penalty relates, and

• “the taxpayer” means the person whose defeat in respect of those arrangements resulted in the penalty being payable.

(4) For the purposes of this paragraph, the entry date of a penalty is not more than 12 months apart from the entry date of another penalty if—

(a) the entry dates of those penalties are the same, or

(b) the period beginning with whichever of the entry dates is the earlier and ending with whichever of the entry dates is the later is 12 months or less.