Related Commentary  Related CasesRelated HMRC Manuals

208(1)  This section applies where a follower notice is given to P (and not withdrawn).

208(2)  P is liable to pay a penalty if the necessary corrective action is not taken in respect of the denied advantage (if any) before the specified time.

208(3)  In this Chapter “the denied advantage” means so much of the asserted advantage (see section 204(3)) as is denied by the application of the principles laid down, or reasoning given, in the judicial ruling identified in the follower notice under section 206(a).

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