Section 315B | Determination of penalties

(1)A penalty under this Part is to be treated as a penalty under a provision of the Taxes Acts and, accordingly, is a penalty to be determined and imposed by an authorised officer under section 100(1) of TMA 1970.

(2)In determining an amount of a specified penalty (including considering whether an amount is inappropriately low under section 315(3)), the authorised officer must have regard to all relevant considerations, including—

(a)the desirability of the penalty being set at a level which appears appropriate for deterring the person, or other persons, from similar failures to comply on future occasions;

(b)the amount of any fees received, or likely to have been received, by the person in connection with the proposal or arrangements concerned;

(c)in the case of a person entering into the arrangements, the amount of any advantage gained, or sought to be gained, by that person.

(3)In this section, a “specified penalty” is a penalty under section 315 that is imposed in relation to a person’s failure to comply with a duty imposed by section 308(1) or (3), 309(1), 310, 310A or 311C.