HMRC Guidance: Prepare for upcoming changes to VAT penalties and VAT interest charges

Find out about new VAT penalties and interest charges that will apply to everyone who submits a VAT Return from 1 January 2023.

Contents

1. Who is affected
2. If you submit your VAT return late
3. If you do not pay your VAT on time
4. Period of familiarisation
5. How late payment interest will be charged
6. Introduction of repayment interest

Source gov.uk