The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of the penalties that could be imposed upon a person who breaches to comply with a requirement imposed under one of the following provisions.
Please note that a person will not be liable to a penalty under these provisions if he is convicted of an offence or assessed for a penalty / surcharge under one of the following:
No penalty will also be imposed if the person has a reasonable excuse for the breach. HMRC may consider that a person has reasonable excuse on compassionate grounds, such as a member of the person’s family becomes very ill or passes away, the trader themselves becomes very ill or a member of staff whom they rely on to complete the VAT return becomes unexpectedly ill and this causes the breach. Ignorance of the law is not a reasonable excuse.
Please see VCP11142 for more information on what HMRC considers to be a reasonable excuse.
If a person fails to comply with the requirement to preserve records under VATA 1994, Sch 11, para 6(3)
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