Paragraph 13 I1

Paragraph 15 (reductions for disclosure) is amended as follows.

For sub-paragraphs (1) and (2) substitute—

“(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
70%	35%	20%
105%	52.5%	30%
140%	70%	40%
100%	50%	30%
150%	75%	45%
200%	100%	60%

”.

Omit sub-paragraphs (3) and (4).