AccountingWEB Live | Tax Talk Live with HMRC: understanding VAT penalty reform

⭐You can earn 1 CPD point by registering for this episode⭐

In this special episode of Tax Talk: Live Rebecca Benneyworth will be joined by Chris Jennings, Readiness for Change Lead at HMRC, to take your questions on VAT penalty reform. 🎉 You will be able to put your questions to Rebecca and Chris who will provide insight on this pressing tax issue.

📢The government has announced that changes to the interest and penalty rules for VAT will be introduced from January 2023, to make them fairer and more consistent across taxes. The changes will initially affect VAT and Income Tax Self Assessment (ITSA), applying to VAT customers for accounting periods beginning on or after 1 January 2023. 📆 The new late submission penalties will affect those who are late in providing returns to HMRC and will operate on a new points-based regime that is designed to penalise the small minority who persistently miss their submission obligations rather than those who make occasional mistakes.

By attending this episode you will:
✅Be briefed on the new VAT penalties commencing in January 2023
✅Gain an understanding of the introductory period and how the penalties during that period will differ
✅We will also cover the mechanism for appealing against penalties and how agents will be able to deal with their clients’ VAT penalties

Join us to better understand how VAT penalty reform will affect your clients and businesses and get answers to your specific questions. 😀

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