# Finance Act 2015, Paragraph 10

Status: prospective

(1) Paragraph 6 (amount of penalty: standard amount) is amended as follows.
(2) After sub-paragraph (1) insert—
“(1A) If the failure is in category 0, the penalty is—
(a) for a deliberate and concealed failure, 100% of the potential lost revenue,
(b) for a deliberate but not concealed failure, 70% of the potential lost revenue, and
(c) for any other case, 30% of the potential lost revenue.”
(3) In sub-paragraph (2)—
(a) in paragraph (a), for “100%” substitute “ 125% ”,
(b) in paragraph (b), for “70%” substitute “ 87.5% ”, and
(c) in paragraph (c), for “30%” substitute “ 37.5% ”.
(4) In sub-paragraph (5), for “3” substitute “ 4 ”.

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Source: https://www.legislation.gov.uk/ukpga/2015/11/schedule/20/paragraph/10 (the official version)
Page: https://openlegislation.uk/finance-act-2015/schedule-20/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.