Collection

VAT penalties and interest

Changes to VAT penalties and interest charges if you submit a VAT Return for an accounting period starting on or after 1 January 2023.

• From: HM Revenue & Customs
• Published: 4 January 2023

Changes to VAT penalties and interest

For VAT accounting periods starting on or after 1 January 2023 there are new penalties for VAT Returns that are submitted late and VAT which is paid late. The way interest is charged has also changed.

The changes aim to simplify and separate penalties and interest.

You can also read about changes to VAT penalties and interest in Welsh.

• Penalty points and penalties if you submit your VAT Return late
  • 1 March 2023
  • Guidance
• Remove penalty points you’ve received after submitting your VAT Return late
  • 15 February 2023
  • Guidance
• How late payment penalties work if you pay VAT late
  • 10 March 2023
  • Guidance
• Late payment interest if you do not pay VAT or penalties on time
  • 26 February 2024
  • Guidance
• Repayment interest on VAT credits or overpayments
  • 30 January 2024
  • Guidance

Published 4 January 2023