CH112100 - Offshore matters: failure to file on time penalties: overview
Amount of penalties involving an offshore matter
CH62240 sets out the penalty percentages that normally apply. Higher penalty percentages may apply to the 12 month further penalties where information involving offshore matters would have been shown in the return.
The penalty rate that is used to calculate the 12 month further penalty depends on the category of that information, see CH112300. There are three categories of information. It is the overseas territory that the information relates to which determines the category that the information falls into, see CH112400.
A single failure may fall within more than one category, see CH112500. If it does, it is treated as a separate failure for each category.
CH112600 outlines the penalty percentages that apply where the failure involves offshore matters.
See CH112700 if a disclosure is received that involves an offshore matter.