New VAT Penalties Archives - Personal Tax Accountant Services Uk - Tax Advisors Consultant London

In the new year we will be saying goodbye to the longstanding, if not much-loved, default surcharge regime. Instead, for VAT periods starting on or after January 1 2023, new penalties will apply if you are late filing a VAT return or paying your VAT bill. The way interest applies to late VAT payments, and late repayments by HMRC, will also change.