Section 59A(5)

Subject to subsections (7) to (11) below, the specified percentage referred to in subsection (4) above shall be determined in relation to a prescribed accounting period by reference to the number of such periods during the surcharge period which are periods in respect of which the taxable person is in default and in respect of which the value of his defaults is more than nil, so that— in relation to the first such prescribed accounting period, the specified percentage is 2 per cent.; in relation to the second such period, the specified percentage is 5 per cent.; in relation to the third such period, the specified percentage is 10 per cent.; and in relation to each such period after the third, the specified percentage is 15 per cent.

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Source: legislation.gov.uk · retrieved 2026-07-28