New VAT late filing penalties
New VAT late filing penalties
March 15, 2023Now that all VAT-registered traders must submit their VAT returns using MTD compatible software (unless they have been granted an exemption), HMRC has introduced a new penalty regime to punish late filing. For VAT periods beginning on or after 1 January 2023, a point is awarded for each late VAT return. A £200 penalty is
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