HMRC has announced a new penalty regime to replace the default surcharge regime for VAT periods starting on or after 1 January 2023. The new regime will affect UK VAT registered businesses that submit late UK VAT returns or make late VAT payments in the UK.
Source Sovos
Latest Posts in "United Kingdom"
- Supreme Court Decision Mandates Prudential to Pay VAT on £9.3 Million Success Fees
- UK Supreme Court Rules on VAT Grouping and Time of Supply in Prudential Case
- High Court Rules in Favor of Hotelbeds UK on Input Tax Recovery Without VAT Invoices
- HMRC Updates Notice 700/45: Correcting VAT Errors, Claims, and Penalties Guidance Revised
- HMRC Updates VAT Notice 700/45: New Guidelines for Correcting Errors and Claiming Refunds
