- CIOT wants government to rewrite unfair VAT rules
- Interest rates on late payments are increasing
- CIOT wants HMRC to have discretion to waive interest on underpaid VAT
- New VAT interest regime does not allow for waiving interest in certain situations
- Interest rate on late payment of tax will increase by 1.5% in April
- CIOT believes current system is unfair and wants commercial restitution reinstated
Source: bournerbullock.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
