Commentary

V7.291 Penalties—introduction

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.291 Penalties—introduction

Part V7 Tax planning | Commentary

Penalties—tax planning

V7.291 Penalties—introduction

The penalty regime for failure to notify HMRC on time of the requirement to be registered for VAT was considered in detail in V7.142–V7.144. V7.283–V7.290 considered how errors on VAT returns could be corrected and disclosed and the interest charges that can arise. This section will look at the penalty regime for errors on VAT returns, the default surcharge regime and its replacement, and finally, other VAT penalties.

Please note that a replacement for the default surcharge regime was introduced by F(No 3)A 2010, ss 26 and 27 and Schs 10

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