
2010 No. 2743
Taxes
The Tax Avoidance Schemes (Penalty) (Amendment) Regulations 2010
Made 15th November 2010
Coming into force 1st January 2011

A draft of these Regulations was laid before, and approved by, the House of Commons under section 98C(2F)(c) of the Taxes Management Act 1970.

Accordingly the Treasury make the following Regulations in exercise of the powers conferred by section 98C(2C)(a) of the Taxes Management Act 1970.
Citation and commencement
1 
These Regulations may be cited as the Tax Avoidance Schemes (Penalty) (Amendment) Regulations 2010 and come into force on 1st January 2011.
Amendment of the Tax Avoidance Schemes (Penalty) Regulations 2007
2 
The Tax Avoidance Schemes (Penalty) Regulations 2007 are amended as follows.
3 
For regulation 3 substitute—“
3. 
For the purposes of section 98C(2A) of TMA 1970, the prescribed sum is £5,000.”
4 
For regulation 4 substitute—“
4. 
For the purposes of section 98C(2B) of TMA 1970, the prescribed sum is £5,000.”
Angela Watkinson
Jeremy Wright
Two of the Lords Commissioners of Her Majesty’s Treasury
15th November 2010