Paragraph 6B F1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 41 para. 6(2)(b) word substituted by Finance Act 2015 Sch. 20 para. 10(3)(b)
Sch. 41 para. 6(1A) inserted by Finance Act 2015 Sch. 20 para. 10(2)
Sch. 41 para. 6(2)(a) word substituted by Finance Act 2015 Sch. 20 para. 10(3)(a)
Sch. 41 para. 6(2)(c) word substituted by Finance Act 2015 Sch. 20 para. 10(3)(c)
Sch. 41 para. 6(5) word substituted by Finance Act 2015 Sch. 20 para. 10(4)
Sch. 41 para. 6A(A1)(1) substituted for Sch. 41 para. 6A(1) by Finance Act 2015 Sch. 20 para. 11(2)
Sch. 41 para. 13(3) Table words inserted by Finance Act 2015 Sch. 20 para. 13

The penalty payable under any of paragraphs 2, 3(1) and 4 is—

(a)

for a deliberate and concealed act or failure, 100% of the potential lost revenue,

(b)

for a deliberate but not concealed act or failure, 70% of the potential lost revenue, and

(c)

for any other case, 30% of the potential lost revenue.

Annotations

F1: Sch. 41 paras. 6-6D substituted for Sch. 41 para. 6 (6.4.2011) by Finance Act 2010 (c. 13), s. 35(2), Sch. 10 para. 8; S.I. 2011/975, art. 2(1) (with art. 4)

C1: 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
C2: 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))
C3: Sch. 41 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 13