{
  "url": "https://openlegislation.uk/finance-act-2021/schedule-25/paragraph-8",
  "json_url": "https://openlegislation.uk/finance-act-2021/schedule-25/paragraph-8.json",
  "legislation": "ukpga/2021/26",
  "legislation_title": "Finance Act 2021",
  "legislation_url": "https://openlegislation.uk/finance-act-2021",
  "path": "schedule/25/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": null,
  "text": "(1) If a person who would otherwise be liable to a penalty of a percentage shown in column 1 of the Table in this paragraph (a “standard percentage”) has made a disclosure, HMRC must reduce the standard percentage to one that reflects the quality of the disclosure.\n(2) But the standard percentage may not be reduced to a percentage that is below the minimum shown for it—\n(a) in the case of a prompted disclosure, in column 2 of the Table, and\n(b) in the case of an unprompted disclosure, in column 3 of the Table.\nStandard percentage\nMinimum percentage for prompted disclosure\nMinimum percentage for unprompted disclosure\n70%\n45%\n30%\n100%\n60%\n40%\n105%\n62.5%\n40%\n140%\n80%\n50%\n150%\n85%\n55%\n200%\n110%\n70%\n(3) But HMRC must not under this paragraph reduce a penalty below £300.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 25 para. 8 in force at 6.4.2024 for specified purposes by S.I. 2024/440, reg. 2(1)"
    },
    {
      "type": "I",
      "label": "I2",
      "text": "Sch. 25 para. 8 in force at 1.4.2026 for specified purposes by S.I. 2026/370, reg. 3(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2021/26/schedule/25/paragraph/8",
    "retrieved_at": "2026-10-29T08:58:11.025653+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."
}