Prepare for the upcoming changes to VAT penalties and VAT interest charges

HMRC have recently published guidance on how taxpayers can prepare for the upcoming changes to VAT penalties and VAT interest charges on GOV.UK.

This will apply to everyone who submits a VAT return from 1 January 2023. For VAT periods starting on or after 1 January 2023, the default surcharge will be replaced by new penalties if VAT returns are submitted or paid late. In December 2022, https://www.gov.uk/guidance/prepare-for-upcoming-changes-to-vat-penalties-and-vat-interest-charges