Changes to VAT penalties and VAT Interest Charges

The changes will affect everyone submitting VAT Returns for accounting periods starting on or after 1 January 2023. Any nil or repayment VAT returns received late will also be subject to late submission penalty points and financial penalties.

VAT – The Basics

What is VAT, when do you have to register for VAT, what are the charges? We explain the basics here in the VAT FAQ.