With effect from 1 April 2010 HMRC are introducing new penalties to help prevent abuse in the VAT and Excise tax systems.
HMRC will apply new wrongdoing penalties where a person:
- issues an invoice that includes VAT which the person is not entitled to charge
- handles goods on which Excise Duty has not been paid or deferred
- uses a product in a way that means more Excise Duty should have been paid
- supplies a product at a lower rate of Excise Duty knowing that it will be used in a way that means a higher rate of Excise Duty should be paid
For further information on VAT related issues please call 0845 034 7200
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