HMRC have announced that the planned alignment of self-assessment and VAT systems for penalties will now take place on 1 January 2023 not 1 April 2022.
The new penalty regime is likely to see a substantial reduction in VAT penalties for businesses caught at the wrong end of the default surcharge regime. However, this news will mean that Default Surcharges will continue to be applied throughout 2022.
This article is from the latest issue of our Construction, Land and Property Bulletin. To receive future copies of any of our newsletters directly to your inbox please visit our preference centre and register your interest.
Find out more
If you have any questions about the above, or would like more information specific to your circumstances, please enter your email address below and we will get in touch:
If you have any questions about the above, or would like more information specific to your circumstances, please enter your email address below and we will get in touch:
Related View All
by Jade Peters
20/11/2024
Corporate Finance
The Sale of Manchester Underwriting Agencies Ltd to Gallagher Holdings (UK) Ltd
Corporate Finance
The Sale of Signalbox Technologies Ltd to Trainline Plc
Corporate Finance
The Sale of Systematics International Ltd to Kynetec UK Ltd
Our Accreditations and Memberships
