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You must check the date from which these rules apply for the tax or duty you are dealing with. See CH81011 for full details.

Jasbinder has made an unprompted disclosure of a deliberate inaccuracy without concealment. »Ê¹ÚÌåÓýapp PLR is £145,000.

Step 1

»Ê¹ÚÌåÓýapp percentage for the quality of the disclosure (a) has been calculated as 65%.

Step 2

»Ê¹ÚÌåÓýapp maximum penalty (b) is 70% and the minimum penalty (c) is 20%.

So the maximum disclosure reduction (d) is 70 � 20 = 50

Step 3

»Ê¹ÚÌåÓýapp actual reduction percentage for disclosure (e) is 50 x 65% = 32.5%

Step 4

Penalty percentage to be charged (f) is 70% � 32.5% = 37.5%

Step 5

»Ê¹ÚÌåÓýapp penalty to be charged (g) is £145,000 x 37.5% = £54,375