- The Finance Act 2021 (Increase in Schedule 26 Penalty Percentages) Regulations 2025 will come into force on 31st May 2025.
- Penalties for late tax payments increase from 2% to 3% after 15 days, and from 4% to 10% after 30 days.
- These changes apply to unpaid income tax, capital gains tax, and VAT for specified periods starting on or after 31st May 2025.
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