Andrew Bradford Tax Director Deloitte reports the results of a recent survey which suggest that business is not over-prepared for the new penalty regime
The new penalty regime for tax returns submitted on or after 1 April 2009 is a major change in HMRC policy and will have a dramatic impact on the way penalties are levied. The changes potentially put even the most diligent of taxpayers at risk of incurring a penalty where tax is misdeclared. Businesses should therefore review their current tax return processes to ensure the risk of incurring a penalty is minimised.
This article looks at the penalty regime from the perspective of VAT-payers using a recent Deloitte survey of more than 100 businesses to assess their awareness of and readiness for the new...
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Andrew Bradford Tax Director Deloitte reports the results of a recent survey which suggest that business is not over-prepared for the new penalty regime
The new penalty regime for tax returns submitted on or after 1 April 2009 is a major change in HMRC policy and will have a dramatic impact on the way penalties are levied. The changes potentially put even the most diligent of taxpayers at risk of incurring a penalty where tax is misdeclared. Businesses should therefore review their current tax return processes to ensure the risk of incurring a penalty is minimised.
This article looks at the penalty regime from the perspective of VAT-payers using a recent Deloitte survey of more than 100 businesses to assess their awareness of and readiness for the new...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
