# Finance Act 2007, Paragraph 10A


(1) If a person who would otherwise be liable to a penalty of a percentage shown in column 1 of the Table (a “standard percentage”) has made a disclosure, HMRC must reduce the standard percentage to one that reflects the quality of the disclosure.
(2) But the standard percentage may not be reduced to a percentage that is below the minimum shown for it—
(a) in the case of a prompted disclosure, in column 2 of the Table, and
(b) in the case of an unprompted disclosure, in column 3 of the Table.
Standard %
Minimum % for prompted disclosure
Minimum % for unprompted disclosure
30%
15%
0%
37.5%
18.75%
0%
45%
22.5%
0%
60%
30%
0%
70%
45%
30%
87.5%
53.75%
35%
100%
60%
40%
105%
62.5%
40%
125%
72.5%
50%
140%
80%
50%
150%
85%
55%
200%
110%
70%

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Source: https://www.legislation.gov.uk/ukpga/2007/11/schedule/24/paragraph/10A (the official version)
Page: https://openlegislation.uk/finance-act-2007/schedule-24/paragraph-10A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.