Section 97A — Taxes Management Act 1970: Two or more tax-geared penalties in respect of the same tax.

Two or more tax-geared penalties in respect of the same tax. 97A Where two or more penalties—

a are incurred by any person and fall to be determined by reference to any income tax or capital gains tax with which he is chargeable for a year of assessment; ... b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . each penalty after the first shall be so reduced that the aggregate amount of the penalties, so far as determined by reference to any particular part of the tax, does not exceed whichever is or, but for this section, would be the greater or greatest of them, so far as so determined.