TC09631 - [2025] UKFTT 01072 (TC)

HMRC also assessed Ms Zefi, under schedule 41, for penalties for failure to notify her liability to HICBC under section 7 TMA. The penalties were assessed on the basis that Ms Zefi’s behaviour was non-deliberate but prompted. The penalties were calculated at 27% of the Potential Lost Revenue but reduced to the minimum 20% on review. The amounts of the penalties finally charged were £94.60 for 2016/17, £215.20 for 2017/18 and £215.20 for 2018/19.