| [s240] |
The amount of the scheme sanction charge in any tax year is 40%
of the total
scheme chargeable payments made by the scheme in
that tax year.
Where a scheme chargeable payment is an unauthorised payment
and the
unauthorised payments charge has been paid for
that payment the amount of tax due is reduced.
The amount of the reduction is the lower of
A scheme chargeable payment is ‘tax paid’ if all or part of the unauthorised payments charge due has been paid.
| Glossary ( RPSM20000000) |
