Business terms and jargon explained. Your business dictionary

What is Mitigation

Tax - Legal Definition:-

The reduction of a penalty by HM Customs and Excise or the VAT and Duties Tribunal. Applies only to certain types of civil penalties. For example, misdeclaration penalty and belated notification penalty.

Crown Copyright. Material taken from HM Revenue & Customs. Reproduced under the terms and conditions of the Click-Use Licence.

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Term created / updated 2006-11-14 13:45:55

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