Follower Notices and Penalties
HMRC are seeking views on proposed changes to the penalty for failing to take corrective action in response to a follower notice. The proposals would:
reduce the rate of the penalty from 50% to 30% of the tax in dispute introduce a penalty of 20% for those who the tribunal decides acted unreasonably by continuing their litigation against HMRC‚ s decision
We welcome comments by technical [at] ciot.org.uk (email) by 18 January at the latest please.