Plt Plot Size From 1 January 2023 a brand new penalty and interest regime will be rolled out for late filing and late payment of VAT This will represent a real shake up of the rules
HMRC replaced the default surcharge system with a new penalty regime for VAT return periods beginning on or after 1 January 2023 Part of the new system penalises Don t pay the VAT penalty for being late For VAT return periods starting 1 January 2023 HMRC has introduced a new penalty regime for the late submission or payment
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New late payment penalties have been introduced for VAT and income tax Self Assessment following the 2025 Spring statement Chancellor Rachel Reeves revealed plans Businesses that miss VAT payment deadlines must act quickly to avoid additional penalties If immediate payment is not possible a Time to Pay arrangement TTP with HMRC may be an
For VAT return periods starting from 1 January 2023 onwards the VAT default surcharge regime has been replaced by a new penalty system with separate penalties for late submission of For VAT returns for accounting periods starting on or after 1 January 2023 a new payment penalty system will now be replaced by a points based late filing penalty regime and a new late
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How to do a VAT Return pay your VAT bill correct errors in your VAT Return what to do if you re late with your return or payment This guidance note sets out how the penalty regime for the late payment of VAT applies for VAT accounting periods commencing on or after 1 January 2023 For separate penalties
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https://www.accountingweb.co.uk › tax › hmrc-policy › new-vat-late-pay…
From 1 January 2023 a brand new penalty and interest regime will be rolled out for late filing and late payment of VAT This will represent a real shake up of the rules
https://thevatconsultancy.com › vat-late-payment-penalties-interest
HMRC replaced the default surcharge system with a new penalty regime for VAT return periods beginning on or after 1 January 2023 Part of the new system penalises
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