Interest harmonisation and penalties for late submission and late payment of tax
This tax information and impact note is about reform of tax penalties and HMRC interest harmonisation.
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Linked documents
- Policy Paper Interest harmonisation and penalties for late payment and late submission
- Bill Amendment Draft legislation (accessible version)
▤ Verbatim text from source document
This measure introduces reforms to the penalty regime for late submission of tax information, late payment of tax and HMRC interest harmonisation, to provide a consistent and simpler system across VAT and Income Tax Self-Assessment (ITSA).
You can read:
- a technical notes on penalties for late submission
- a technical notes on penalties for late payment and interest harmonisation
- research on exploring communication needs of customers for the implementation of changes to late payment and late submission penalties