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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