SIOG9270 - Settlement by agreement: consideration of penalties: culpable tax - examples
This instruction applies to penalties charged for periods earlier than those to which Sch 24 FA 2007 and Sch 41 FA 2008 apply. For Sch 24 and Sch 41, see the Compliance Handbook.
Example 1
Liability declared in return £10,000
Culpable additional tax £3,000
Less further relief claimed £2,000
Correct liability = £11,000
The 바카라 사이트˜culpable tax바카라 사이트™ is £3,000, but the statutory cover relates only to the 바카라 사이트˜difference바카라 사이트™ of £1,000 (£11,000 - £10,000) so the penalty loading should only be applied to £1,000.
Example 2
Liability declared in return £10,000
Culpable additional tax £3,000
Non culpable additional tax £3,000
Less further relief claimed £2,000
Correct liability = £14,000
Again the 바카라 사이트˜culpable tax바카라 사이트™ is £3,000. The statutory 바카라 사이트˜difference바카라 사이트™ is now £4,000 (£14,000 - £10,000). Penalties should be applied to the lower figure £3,000.