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Undeclared duty and VAT assessments – What you need to do if you receive a penalty

If HMRC suspects that you or your company have failed to pay the amount of Duty or VAT required by law, or you have made errors on your returns, you may be issued with a fine known as a “wrongdoing penalty”. But what exactly is this penalty, and what reasons might HMRC give for handing you one?

Source: dpp-businesstax.com

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