HM Revenue and Customs (HMRC) is reminding Value Added Tax (VAT) registered businesses on the Isle of Wight to file their VAT returns and pay on time, ahead of new penalties being applied.
The new penalties will be fairer and more proportionate for businesses that submit their VAT returns or pay their VAT late. The first monthly returns and payments affected by the penalties are due by 7th March 2023.
Source: www.islandecho.co.uk
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