New points-based late-submission penalties

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.