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New points-based late-submission penalties

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HMRC has updated its policy paper Penalties for late submission on the proposed new points-based penalty regime which is being introduced for VAT and income tax between April 2022 and April 2024, to explain how the penalty points will work when:

  • the representative member of a VAT group is replaced;
  • a new group member joins a VAT group;
  • a group member leaves a VAT group; and
  • a new VAT group is formed.
Issue: 1526
Categories: News