Warning: Proposed repeal of default surcharge by FA 2009

From a date to be appointed, the default surcharge is due to be replaced.

The date when the new penalty will apply probably depends on HMRC’s progress with the computer-related issues of this change.

The penalty will try to encourage prompt filing and payment by imposing an escalating series of penalties, depending on the number of failures within a penalty period. Further penalties arise if there is a prolonged delay in filing returns or paying the VAT due.

The revised penalties are:

(1)FA 2009, Sch. 55 for a failure to make a return on time with:

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