SCHEDULES
SCHEDULE 38Tax agents: dishonest conduct
PART 4Sanctions for dishonest conduct
27Special reduction
1
This paragraph applies if HMRC propose to assess an individual to a penalty under paragraph 26 of £5,000.
2
If they think it right because of special circumstances, HMRC may take one or more of the following steps—
a
reduce the penalty to an amount below £5,000 (which may be nil),
b
stay the penalty, or
c
agree a compromise in relation to proceedings for the penalty.
3
“Special circumstances” does not include—
a
ability to pay, or
b
the fact that a loss of tax revenue from a client is balanced by an over-payment by another person (whether or not a client).