If you run a VAT-registered business, you should be aware that HMRC has introduced new penalties for late submission of VAT returns
Production companies will then receive an additional £200 penalty for each late submission they make while they’re at the threshold. Are nil returns exempt? Notably, there’s no relationship between the penalty and the value of the VAT return. This means you could still incur a penalty if...
From 1 January 2023 HMRC is introducing simplified penalties for late submissions and payments. Late submission penalties will work on a points-based system. If your client does not submit their return on time, they may receive a late submission penalty point and a fine. Late...
a tax expert has warned. You can use these bank details to pay HM Revenue and Customs (HMRC) by Faster Payments, Bacs, or CHAPS. If you are paid through the PAYE system you can update them online. If you do not have an PPE yet and miss this deadline, it is possible to make a ...
I’ve filed my return, now going back a few days later to pay and it says I owe one amount, then on another page I owe a slightly different amount that’s apparently late (despite me being up to date with payments), but overall I owe another ...
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