FHDDS51445 - Penalties, sanctions and offences: penalties – policy: Trading without approval - calculating the penalty - Introduction

(The Fulfilment Regulations 2018 regulation 15 & Finance Act (No.2) 2017 Schedule 13)

The penalty for trading without approval is calculated using a starting maximum, called the ‘maximum amount’ which is £10,000. FHDDS behavioural penalties differ to other penalties available under Finance Act 2008, Schedule 42 as there is no potential lost revenue on which to base the penalty calculation.

You must work out the amount of the penalty by applying the appropriate percentage to the maximum amount depending on whether the contravention is:

• deliberate and concealed,

• deliberate but not concealed, or

• non-deliberate.