Penalty reform for VAT delayed until January 2023
The penalty reform for late payments has been delayed until 1 January 2023, confirms a statement by Lucy Frazer (The Financial Secretary to the Treasury).
The penalty reform for late payments has been delayed until 1 January 2023, confirms a statement by Lucy Frazer (The Financial Secretary to the Treasury).
Multiple homeowners who leave “holiday lets” empty will no longer be able to claim tax benefits, it has been announced.
Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed.
It should perhaps be no surprise given the circumstances of the pandemic that individuals and businesses might have incurred penalties for late tax payments.
HM Revenue & Customs (HMRC) has urged VAT-registered businesses to sign up for Making Tax Digital (MTD) for VAT to “save time and reduce errors”.
Annual investment in companies with goals to tackle climate change has quadrupled since 2018.
Late filing and late payment penalties will be waived for one month to give taxpayers more time to prepare their 2020 to 2021 Self Assessment tax return, it has been announced.
According to HM Revenue & Customs (HMRC), over 31,000 Self Assessment tax returns were submitted between Christmas Eve and Boxing Day.
The rate of interest charged on late payments by HM Revenue & Customs (HMRC) has increased, it has been announced.
Temporary legislation permitting outdoor markets and marquees will be made permanent, the Government has confirmed.
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