PART 5

PENALTIES
CHAPTER 2

PENALTIES FOR FAILURE TO MAKE RETURNS OR PAY TAX

Penalties under Chapter 2: general

Interaction of penalties
124
1
Where a person is liable to more than one penalty under sections 118 to 120 which is determined by reference to a liability to a devolved tax, the aggregate of the amounts of those penalties must not exceed 100% of the liability to the devolved tax.
2
Where a person is liable to—
a
a penalty under this Chapter which is determined by reference to a liability to a devolved tax, and
b
any other penalty (other than a penalty under this Chapter) which is determined by reference to the same liability to a devolved tax,
the amount of the penalty under this Chapter is to be reduced by the amount of that other penalty.