New UK VAT penalty regime
1 February 2023| CATEGORIES: VAT penalty regime| TAGS: New HMRC rules
HMRC has introduced a new penalty regime for VAT returns that are submitted late and VAT which is paid late. The way interest is charged has also changed.
The new system is designed to penalise persistent offenders rather than those who make occasional mistakes. For further information on the new regime see our VAT Alert and HMRC published guidance.
Please get in touch if you are affected by these changes and require assistance challenging or appealing against a penalty.