Section 70(4)

Those matters are— the insufficiency of the funds available to any person for paying any VAT due or for paying the amount of the penalty; the fact that there has, in the case in question or in that case taken with any other cases, been no or no significant loss of VAT; the fact that the person liable to the penalty or a person acting on his behalf has acted in good faith.

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