HMRC
500,000 businesses filed VAT returns late last year, study shows
The penalty regime for the late filing and payment of VAT can result in fines up to 15% of the entire VAT bill. This penalty increases each time the VAT bill is paid late
A total of 519,120 VAT returns were filed late by businesses last year, up 13% from 459,190 the previous year, leaving many SMEs exposed to interest and penalties on their outstanding bills, according to UHY Hacker Young.
You'll need to
subscribe to unlock this content. Already subscribed? Login?
