Paragraph 9 I1

(1)

If they think it right because of special circumstances, HMRC may reduce a penalty under paragraph 1.

(2)

In sub-paragraph 1 “special circumstances” does not include—

(a)

ability to pay, or

(b)

the fact that a potential loss of revenue from one taxpayer is balanced by a potential overpayment by another.

(3)

In sub-paragraph (1) the reference to reducing a penalty includes a reference to—

(a)

staying a penalty, or

(b)

agreeing a compromise in relation to proceedings for a penalty.

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