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VAT Penalties Reminder Penalties for submitting VAT returns or paying VAT late, came into effect on 1 January 2023. The HM Revenue & Customs (HMRC) VAT penalties replace the default surcharge. Who do the VAT Penalties affect? The changes affect everyone submitting VAT returns for accounting periods commencing on or after 1 January 2023. Any nil […]
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What is Making Tax Digital? Making Tax Digital (MTD) changes the way businesses report financial information to the UK tax authority, HM Revenue & Customs (HMRC). MTD is the government’s key strategy to transform tax administration so that it is more effective, more efficient and easier for taxpayers. HMRC started to digitalise the UK tax […]
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