SCHEDULES
SCHEDULE 10Penalties: offshore income etc
Schedule 55 to FA 2009
I111
1
Paragraph 6 (amount of penalty if failure continues more than 12 months) is amended as follows.
2
In sub-paragraph (3)(a), for “100%” substitute “
the relevant percentage
”
.
3
After sub-paragraph (3) insert—
3A
For the purposes of sub-paragraph (3)(a), the relevant percentage is—
a
for the withholding of category 1 information, 100%,
b
for the withholding of category 2 information, 150%, and
c
for the withholding of category 3 information, 200%.
4
In sub-paragraph (4)(a), for “70%” substitute “
the relevant percentage
”
.
5
After sub-paragraph (4) insert—
4A
For the purposes of sub-paragraph (4)(a), the relevant percentage is—
a
for the withholding of category 1 information, 70%,
b
for the withholding of category 2 information, 105%, and
c
for the withholding of category 3 information, 140%.
6
After sub-paragraph (5) insert—
6
Paragraph 6A explains the 3 categories of information.