The new penalty regime
The new penalty regime introduced by HM Revenue & Customs took effect from 1 April 2009. Essentially the regime attempts to reward good and punish bad behaviour and applies a measure of reasonable care. If reasonable care has not been taken the imposition of a penalty is almost inevitable. HMRC has published a leaflet entitled “Take Care to Avoid A Penalty” which provides some guidance on their views.
This can be found at http://www.hmrc.gov.uk/about/new-penalties/penalties-leaflet.pdf.
You can comment on the new penalty regime in the space provided below, or visit my profile for details of how to contact me.
Cathy Corns is a Corporate Tax partner at Mercer & Hole.
Date: 30th April, 2009
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