Commentary

V5.381A Replacement of the default surcharge

Part V5 Compliance, enforcement and appeals

V5.381A Replacement of the default surcharge

V5.381A Replacement of the default surcharge

V5.382 and V5.383 below describe the revised penalty regime in relation to late submission and late payments contained in Finance Bill 2021, and due to come into force with effect from 1 April 2022. An earlier version, included in the 2019 Finance Bill, was subsequently excluded from the Bill, at which point the Government stated that1::

'As announced at Autumn Budget 2017, the government consulted in summer 2018 on draft legislation for new late payment and late submission sanctions. The government remains committed to the reform and intends to legislate in a

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