{"id":1053,"date":"2021-11-10T11:39:40","date_gmt":"2021-11-10T11:39:40","guid":{"rendered":"https:\/\/www.maccountingservices.co.uk\/?p=1053"},"modified":"2021-11-10T11:39:42","modified_gmt":"2021-11-10T11:39:42","slug":"vat-penalty-change","status":"publish","type":"post","link":"https:\/\/www.maccountingservices.co.uk\/index.php\/2021\/11\/10\/vat-penalty-change\/","title":{"rendered":"Vat Penalty Change"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Attended a webinar today with Chris Jennings of HMRC to learn more about the overhaul of VAT penalties.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From the 1<sup>st<\/sup> of April 2022, late submissions will result in the taxpayer receiving 1 point. At a certain threshold of points, they will be charged \u00a3200 for late submissions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For late payments, the taxpayer will be charged a percentage of the tax due. This charge will be 2% after 15 days unpaid, 4% after 30 days. After 31 days the taxpayer will be charged daily.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This system seems fairer than the current default surcharge mechanism.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Attended a webinar today with Chris Jennings of HMRC to learn more about the overhaul of VAT penalties. From the 1st of April 2022, late submissions will result in the taxpayer receiving 1 point. At<a class=\"read-more\" href=\"https:\/\/www.maccountingservices.co.uk\/index.php\/2021\/11\/10\/vat-penalty-change\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":1055,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=1053"}],"version-history":[{"count":1,"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1053\/revisions"}],"predecessor-version":[{"id":1057,"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1053\/revisions\/1057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/media\/1055"}],"wp:attachment":[{"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=1053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=1053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.maccountingservices.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=1053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}