8After 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 A: 0% |
| case B: 20% | case B: 10% | |
| 37.5% | case A: 12.5% | case A: 0% |
| case B: 25% | case B: 12.5% | |
| 45% | case A: 15% | case A: 0% |
| case B: 30% | case B:15% | |
| 60% | case A: 20% | case A: 0% |
| case B: 40% | 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%” |