{
  "url": "https://openlegislation.uk/finance-act-2015/schedule-20/paragraph-2",
  "json_url": "https://openlegislation.uk/finance-act-2015/schedule-20/paragraph-2.json",
  "legislation": "ukpga/2015/11",
  "legislation_title": "Finance Act 2015",
  "legislation_url": "https://openlegislation.uk/finance-act-2015",
  "path": "schedule/20/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": null,
  "text": "(1) Paragraph 4 (penalties payable under paragraph 1) is amended as follows.\n(2) After sub-paragraph (1) insert—\n“(1A) If the inaccuracy is in category 0, the penalty is—\n(a) for careless action, 30% of the potential lost revenue,\n(b) for deliberate but not concealed action, 70% of the potential lost revenue, and\n(c) for deliberate and concealed action, 100% of the potential lost revenue.”\n(3) In sub-paragraph (2)—\n(a) in paragraph (a), for “30%” substitute “ 37.5% ”,\n(b) in paragraph (b), for “70%” substitute “ 87.5% ”, and\n(c) in paragraph (c), for “100%” substitute “ 125% ”.\n(4) In sub-paragraph (5), for “3” substitute “ 4 ”.",
  "extent": null,
  "status": "prospective",
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2015/11/schedule/20/paragraph/2",
    "retrieved_at": "2026-10-29T09:07:01.784220+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}