This paragraph covers the penalty regime for failure to make returns and the late submission of returns which applies for VAT return periods starting on or after 1 January 2023. Alongside the penalties for failure to make payment on time (described in V5.302C) this 'harmonised' penalty regime is the replacement for the default surcharge that is explained at V5.371.
Overview of penalties for failure to make returns, late submission, etc
For VAT return periods that start on or after 1 January 2023, a points-based penalty regime applies where a person fails to submit their VAT return on time.
Under this penalty regime, a person that fails to submit its return on time is awarded a penalty point. When the number of penalty points reaches a penalty threshold, then a financial penalty of £200 is issued1.
The points threshold that triggers the penalty depends on the frequency with which VAT returns are due to be submitted2. In other words,
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Web page updated on 24 Aug 2024 12:59