# Finance Act 2016, Paragraph 8


After paragraph 13 insert—
“13A (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) for a prompted disclosure, in column 2 of the Table, and
(b) for an unprompted disclosure, in column 3 of the Table.
(3) Where the Table shows a different minimum for case A and case B—
(a) the case A minimum applies if HMRC becomes aware of the failure less than 12 months after the time when the tax first becomes unpaid by reason of the failure;
(b) otherwise, the case B minimum applies.
Standard %
Minimum % for prompted disclosure
Minimum % for unprompted disclosure
30%
case A: 10%
case B: 20%
case A: 0%
case B: 10%
37.5%
case A: 12.5%
case B: 25%
case A: 0%
case B: 12.5%
45%
case A: 15%
case B: 30%
case A: 0%
case B:15%
60%
case A: 20%
case B: 40%
case A: 0%
case B: 20%
70%
45%
30%
87.5%
53.75%
35%
100%
60%
40%
105%
62.5%
40%
125%
72.5%
50%
140%
80%
50%
150%
85%
55%
200%
110%
70%
”

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Source: https://www.legislation.gov.uk/ukpga/2016/24/schedule/21/paragraph/8 (the official version)
Page: https://openlegislation.uk/finance-act-2016/schedule-21/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.