http://www.legislation.gov.uk/id/ukpga/2007/11/schedule/24

SCHEDULES

C1 C5 C3 C2 C4 C6 C8 C9 C10 C11 C14 C13 C12 C15 C16SCHEDULE 24Penalties for errors

Annotations:

Modifications etc. (not altering text)

Sch. 24 applied (N.I.) (1.4.2008) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2000 (S.R. 2000/121), regs. 7(2A)(b), 26(4) (as amended by S.R. 2008/129, regs. 1, 3(a), 4)

Sch. 24 applied (6.4.2008) by The Social Security (Contributions) Regulations 2001 (S.I. 2001/1004), reg. 81(1)(1A), Sch. 4 paras. 21A(8), 21D(9), 21F(12), 22(7), 31(8) (as amended by S.I. 2008/636, reg. 7; S.I. 2010/721, reg. 4; S.I. 2012/821, reg. 11)

Sch. 24 applied (E.W.) (6.4.2009) by The Education (Student Loans) (Repayment) Regulations 2009 (S.I. 2009/470), regs. 1(1), 13(3)(b), 40(4), 59(8)(b) (with reg. 1(4)(6))

Sch. 24 applied (N.I.) (6.4.2009) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009 (S.R. 2009/128), regs. 1(1), 9(3)(b), 35(4), 54(8)(b)

Sch. 24 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 37

Sch. 24 applied (with modifications) (19.4.2013) by The Small Charitable Donations Regulations 2013 (S.I. 2013/938), regs. 1, 15

Sch. 24 excluded (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 13(a)

Sch. 24 applied by 1993 c. 34, Sch. 20A para. 9A(6) (as inserted (19.12.2014) by The Lloyd's Underwriters (Conversion of Partnerships to Underwriting through Successor Companies) (Tax) Regulations 2014 (S.I. 2014/3133), regs. 1, 5(4))

C10

Sch. 24 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)

C11

Sch. 24 applied (with modifications) by 1992 c.7 (N.I.) s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)

C14

Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 85(4)

C13

Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 50(3)

C12

Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 24(3)

C15

Sch. 24 applied (with modifications) (1.5.2023) by The Value Added Tax (Margin Schemes and Removal or Export of Goods: VAT-related Payments) Order 2023 (S.I. 2023/68), arts. 1(1), 14 (with art. 1(2))

C16

Sch. 24 applied (14.9.2023) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No. 2) Regulations 2023 (S.I. 2023/912), regs. 1(2), 40(2) (with reg. 1(3))

C8Part 2Amount of penalty

Reductions for disclosure

I1 C7 C89

F7A1

Paragraph 10 provides for reductions in penalties—

a

under paragraph 1 where a person discloses an inaccuracy that involves a domestic matter,

b

under paragraph 1A where a person discloses a supply of false information or withholding of information, and

c

under paragraph 2 where a person discloses a failure to disclose an under-assessment.

A2

Paragraph 10A provides for reductions in penalties under paragraph 1 where a person discloses an inaccuracy that involves an offshore matter or an offshore transfer.

A3

Sub-paragraph (1) applies where a person discloses—

a

an inaccuracy that involves a domestic matter,

b

a careless inaccuracy that involves an offshore matter,

c

a supply of false information or withholding of information, or

d

a failure to disclose an under-assessment.

1

A person discloses F9the matter by—

a

telling HMRC about it,

b

giving HMRC reasonable help in quantifying the inaccuracy F1, the inaccuracy attributable to the F4supply of false information or withholding of information, or the under-assessment, and

c

allowing HMRC access to records for the purpose of ensuring that the inaccuracy F2, the inaccuracy attributable to the F5supply of false information or withholding of information, or the under-assessment is fully corrected.

F61A

Sub-paragraph (1B) applies where a person discloses—

a

a deliberate inaccuracy (whether concealed or not) that involves an offshore matter, or

b

an inaccuracy that involves an offshore transfer.

1B

A person discloses the inaccuracy by—

a

telling HMRC about it,

b

giving HMRC reasonable help in quantifying the inaccuracy,

c

allowing HMRC access to records for the purpose of ensuring that the inaccuracy is fully corrected, and

d

providing HMRC with additional information.

1C

The Treasury must make regulations setting out what is meant by “additional information” for the purposes of sub-paragraph (1B)(d).

1D

Regulations under sub-paragraph (1C) are to be made by statutory instrument.

1E

An instrument containing regulations under sub-paragraph (1C) is subject to annulment in pursuance of a resolution of the House of Commons.

2

Disclosure—

a

is “unprompted” if made at a time when the person making it has no reason to believe that HMRC have discovered or are about to discover the inaccuracy F3, the supply of false information or withholding of information, or the under-assessment, and

b

otherwise, is “prompted”.

3

In relation to disclosure “quality” includes timing, nature and extent.

F84

Paragraph 4A(4) to (5) applies to determine whether an inaccuracy involves an offshore matter, an offshore transfer or a domestic matter for the purposes of this paragraph.