Paragraph 3

United Kingdom

The original penalty is for a “deliberate failure” if—

(a)

in the case of a penalty within paragraph 2(a), the inaccuracy to which it relates was deliberate on P's part (whether or not concealed);

(b)

in the case of a penalty within paragraph 2(b), the failure by P was deliberate (whether or not concealed);

(c)

in the case of a penalty within paragraph 2(c), the withholding of the information, resulting from the failure to make the return, is deliberate (whether or not concealed).

F1(d)

in the case of a penalty within paragraph 2(d), P was aware at any time during the RTC period that at the end of the 2016-17 tax year P had relevant offshore tax non-compliance to correct;

and terms used in paragraph (d) have the same meaning as in Schedule 18 to FA 2017.

Annotations

Textual amendments

F1: Sch. 21 para. 3(d) and words inserted (with effect in accordance with Sch. 18 paras. 2-13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 18 para. 27(3)