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Finance Act 2021

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This is the original version (as it was originally enacted).

PART 3Amendment of Schedule 20 to FA 2015

14In Schedule 20 to FA 2015 (penalties in connection with offshore matters and offshore transfers), after paragraph 20 insert—

“Follower notices: aggregate penalties

21(1)Section 212(5) of FA 2014 (follower notices: aggregate penalties) is amended as follows.

(2)After paragraph (b) insert—

“(ba)125% in a case where neither paragraph (a) nor paragraph (b) applies and at least one of the penalties is determined by reference to the percentage in—

(i)paragraph 4(2)(c) of Schedule 24 to FA 2007,

(ii)paragraph 6(2)(a) of Schedule 41 to FA 2008, or

(iii)paragraph 6(3A)(a) of Schedule 55 to FA 2009,”.

(3)In paragraph (c), for “neither paragraph (a) nor paragraph (b) applies” substitute “none of paragraphs (a) to (ba) applies”.

(4)In paragraph (d), for “none of paragraphs (a), (b) and (c) applies” substitute “none of paragraphs (a) to (c) applies”.”

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