Commentary

RCB/19/08 New penalties for errors in returns and documents

Part V16 Forms and other HMRC material

Part V16 Forms and other HMRC material | Commentary

RCB/19/08 New penalties for errors in returns and documents

Part V16 Forms and other HMRC material | Commentary

RCB/19/08 New penalties for errors in returns and documents

Revenue & Customs Brief, Issue 19. 1 April 2008

Introduction

This brief explains how the new penalties will affect our customers and their advisers.

HM Revenue & Customs (HMRC) inherited a confusing variety of penalty charging powers. The new penalties are one of the first pieces of cross cutting legislation designed to make the tax system simpler and more consistent. It follows consultation with our customers and other interested parties during the Review of Powers, Deterrents and Safeguards.

The legislation aims to help those who try to comply, and come down hard on those who don't. The clear messages for customers are that:

— if they take reasonable care when completing their returns they will not be penalised
— if they do not take reasonable care, errors will be penalised and the penalties will be higher if the error is deliberate
— disclosing errors to us early will substantially reduce any penalty due

Taxes affected

The new penalties are for errors on returns and documents initially for VAT, PAYE, National Insurance, Capital Gains Tax, Income Tax, Corporation Tax and the

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RCB/27/08 Interpretation of Article 13 of the Principal VAT Directive—“bodies governed by public law” and “special legal regime”

RCB/46/08 VAT—Court of Appeal decision in the case of Loyalty Management (UK) Ltd (LMUK) – HMRC position, pending outcome of appeal to the House of Lords

RCB/48/08 VAT—exemption for fund management services

RCB/52/08 VAT on fuel used for propelling private pleasure craft and private pleasure flying

RCB/53/08 VAT—new requirement from 1 January 2010 that businesses provide EC Sales Lists for taxable supplies of services to which the reverse charge applies

RCB/54/08 VAT—new zero-rated dwellings – whether arrangements are abusive

RCB/57/08 VAT—excess charges in non-local authority car parks

RCB/60/08 VAT—Court of Appeal decision in the case of Loyalty Management (UK) Ltd – further clarification of HMRC position, pending outcome of appeal to the House of Lords

RCB/61/08 Intrastat—changes from 1 January 2009

RCB/63/08 VAT—the decisions of the VAT Tribunal in the cases of the Rank Group plc, in respect of the supply of Mechanised Cash Bingo (MCB) and gaming machine takings

RCB/19/08 New penalties for errors in returns and documents

Part V16 Forms and other HMRC material

RCB/19/08 New penalties for errors in returns and documents

RCB/19/08 New penalties for errors in returns and documents

Introduction

Taxes affected

Business Briefs

RCB/20/08 Extension of non-statutory clearances service for HM Revenue and Customs (HMRC) business customers

RCB/24/08 VAT—land and buildings—new Schedule 10 of VATA 1994 including changes to the option to tax

RCB/27/08 Interpretation of Article 13 of the Principal VAT Directive—“bodies governed by public law” and “special legal regime”

RCB/28/08 VAT—land and buildings

RCB/30/08 VAT—partial exemption – launch of consultation

RCB/31/08 Set off where right to claim overdeclared tax is transferred

RCB/34/08 VAT—partial exemption—retrospective claims for input tax by higher education institutions (HEIs)

RCB/35/08 VAT exemption for fund management services

RCB/36/08 VAT treatment of charity challenge events

RCB/38/08 VAT—default interest and net errors of less than £2000

RCB/44/08 VAT—partial exemption – VAT adjustments when house builders let their dwellings before selling them

RCB/46/08 VAT—Court of Appeal decision in the case of Loyalty Management (UK) Ltd (LMUK) – HMRC position, pending outcome of appeal to the House of Lords

RCB/48/08 VAT—exemption for fund management services

RCB/52/08 VAT on fuel used for propelling private pleasure craft and private pleasure flying

RCB/53/08 VAT—new requirement from 1 January 2010 that businesses provide EC Sales Lists for taxable supplies of services to which the reverse charge applies

RCB/54/08 VAT—new zero-rated dwellings – whether arrangements are abusive

RCB/57/08 VAT—excess charges in non-local authority car parks

RCB/60/08 VAT—Court of Appeal decision in the case of Loyalty Management (UK) Ltd – further clarification of HMRC position, pending outcome of appeal to the House of Lords

RCB/61/08 Intrastat—changes from 1 January 2009

RCB/63/08 VAT—the decisions of the VAT Tribunal in the cases of the Rank Group plc, in respect of the supply of Mechanised Cash Bingo (MCB) and gaming machine takings

RCB/19/08 New penalties for errors in returns and documents

Part V16 Forms and other HMRC material

RCB/19/08 New penalties for errors in returns and documents

RCB/19/08 New penalties for errors in returns and documents

Introduction

Taxes affected

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