How to do a compliance check: compliance check series of factsheets: when to issue CC/FS17 penalties for Income Tax and Capital Gains Tax involving offshore matters
Factsheet CC/FS17 explains about the higher penalties we may charge when there is an inaccuracy, a failure to notify or a failure to file on time and
- the tax at stake is income tax or capital gains tax
- an offshore matter relating to territories in categories 2 or 3 is involved, see CH403145.
You must issue factsheet CC/FS17 to the person along with factsheet CC/FS7a Penalties for inaccuracies in returns and documents, see CH202235, factsheet CC/FS11 Penalties for failure to notify, see CH202325 or factsheet CC/FS18a Late filing penalties for Income Tax and Capital Gains Tax, see CH202460 depending on the type of penalty.
If you are in a meeting you must give the person time to read the factsheets and make sure they are fully aware of the potential reductions for telling, helping and giving. You must also tell the person about the benefits of making an unprompted disclosure of anything else that they know is wrong.
If you issue the factsheets by post you must draw attention to potential reductions in the covering letter.
Higher penalties for offshore matters are explained fully for