3(1)The penalty payable under paragraph 1 is (except in a case mentioned in sub-paragraph (2)) the higher of—U.K.
(a)100% of the potential lost revenue, or
(b)£3,000.
(2)In a case where P has enabled Q to engage in conduct which makes Q liable to a penalty under paragraph 1 of Schedule 21 to FA 2015, the penalty payable under paragraph 1 is the higher of—
(a)50% of the potential lost revenue in respect of the original tax non-compliance, and
(b)£3,000.
(3)In sub-paragraph (2)(a) “the original tax non-compliance” means the conduct that incurred the original penalty and “the potential lost revenue” (in respect of that non-compliance) is—
(a)the potential lost revenue under Schedule 24 to FA 2007,
(b)the potential lost revenue under Schedule 41 to FA 2008, or
(c)the liability to tax which would have been shown on the return (within the meaning of Schedule 55 to FA 2009),
according to whether the original penalty was incurred under paragraph 1 of Schedule 24, paragraph 1 of Schedule 41 or paragraph 6 of Schedule 55.
Commencement Information
I1Sch. 20 para. 3 in force at 1.1.2017 by S.I. 2016/1249, reg. 2