Mitigation of penalty
In BS Eyin v HMRC (No. 2) (TC02834 – 30 August) HMRC formed the opinion that a trader (E) had underdeclared his turnover and imposed a penalty which they mitigated by 40%. E appealed. The First-tier Tribunal slightly reduced the amounts of the underlying assessments but upheld the imposition of the penalty. Judge Nowlan held that ‘the percentage reductions that HMRC has conceded were certainly fair if not generous’.
Why it matters: The First-tier Tribunal held that there were no grounds for any further mitigation of the penalty. Judge Nowlan’s comments are self-explanatory.
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Mitigation of penalty
In BS Eyin v HMRC (No. 2) (TC02834 – 30 August) HMRC formed the opinion that a trader (E) had underdeclared his turnover and imposed a penalty which they mitigated by 40%. E appealed. The First-tier Tribunal slightly reduced the amounts of the underlying assessments but upheld the imposition of the penalty. Judge Nowlan held that ‘the percentage reductions that HMRC has conceded were certainly fair if not generous’.
Why it matters: The First-tier Tribunal held that there were no grounds for any further mitigation of the penalty. Judge Nowlan’s comments are self-explanatory.
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If you do not subscribe but are a registered user, please enter your details in the following boxes: