US EditionAn overview of filing and payment penalties for businesses - Smailes Goldie
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An overview of filing and payment penalties for businesses - Smailes Goldie
Across the major taxes, HM Revenue & Customs (HMRC) issues penalties when tax is not filed or paid on time. The specific rules vary by tax type, but late submission or payment will cost you. Let’s look at what has changed, particularly under Making Tax Digital (MTD) for VAT and MTD for Income Tax, and then recap the penalties across other key taxes. Making Tax Digital – New late-payment regime from April 2025 The Spring Statement confirmed …
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