Finance Act 2010

11(1)Paragraph 6 (amount of penalty if failure continues more than 12 months) is amended as follows.U.K.

(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.”