CH72520 | Penalties for Failure to Notify: Calculating the penalty: Before calculating the penalty

To work out the penalty to be charged you will need to establish

• the underlying behaviour that gave rise to the failure, see CH72100

• the penalty period, see CH71200

• the potential lost revenue (PLR), see CH72620

• whether the disclosure was unprompted or prompted, see CH73120,

• whether the failure to involve an offshore matter and the tax at stake was income tax or capital gains tax, see CH100000+, and

• the quality of disclosure, see CH73220.

For detailed guidance on how to calculate the penalty, see CH73520.