Paragraph 12

(1)

In Schedule 31, paragraph 5 is amended as follows.

(2)

In sub-paragraph (2)—

(a)

in paragraph (a), for “20%” substitute “ 12% ”;

(b)

after paragraph (a), insert—

“(aa)
the total amount of the penalties under section 208A(3) for which the relevant partners are liable is 8% of the value of the denied advantage,”;

(c)

in paragraph (b), after “the penalty” insert “ under section 208(2) or 208A(3) (as modified by this paragraph) ”.

(3)

In sub-paragraph (5), after “penalties” insert “ under section 208(2) (as modified by this paragraph) ”.

(4)

In sub-paragraph (6), after “paragraph 4(2)” insert “ or 4A ”.

(5)

In sub-paragraph (7)(a), after “penalties” insert “ under section 208(2) ”.

(6)

After sub-paragraph (9), insert—

“(9A)
The right of appeal under section 214A extends to—
(a)
a decision that penalties under section 208A(3) are payable by the relevant partners by virtue of this paragraph, and
(b)
a decision as to the total amount of those penalties payable by those partners,
but not to a decision as to the appropriate share of, or the amount of a penalty payable by, a relevant partner.
(9B)
Section 214A(3) applies to an appeal by virtue of sub-paragraph (9A)(a) as it applies to an appeal under section 214A(1).
(9C)
Section 214A(5) applies to an appeal by virtue of sub-paragraph (9A)(a), and section 214A(6) to an appeal by virtue of sub-paragraph (9A)(b).”

(7)

In sub-paragraph (11), after “(2)(a)” insert “ and (aa) ”.