SCHEDULES
C2C3C1SCHEDULE 41Penalties: failure to notify and certain VAT and excise wrongdoing
Annotations:
Modifications etc. (not altering text)
C3
Sch. 41 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 11(6) (with Sch. 16 para. 11(7))
C1
Sch. 41 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 13
Amount of penalty: standard amount
F16C
The penalty payable under paragraph 3(2) is 100% of the potential lost revenue.
Sch. 41 modified (with effect in accordance with s. 42(2), Sch. 12 para. 29(1) of the amending Act) by Finance Act 2018 (c. 3), Sch. 12 paras. 33, 34