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1. • • If the late payment is 16-31 days overdue, then you will receive a first late payment penalty. This penalty then increases after 31 days. The late submission penalty rules won’t apply to you if: You are a new VAT-registered business, and this is your first VAT return You are cancelling your registration, and this is your final VAT return
     audtax.co.uk › what-happens-if-you-submit-a-late-vat-return

     What happens if you submit a late VAT return? | What to do

2. www.gov.uk › guidance › penalty-points-and-penaltiesPenalty points and penalties if you submit your VAT Return late

   www.gov.uk › guidance › penalty-points-and-penalties

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   Jan 4, 2023 · From 1 January 2023, you’ll get penalty points if you submit a VAT Return late (including nil payment returns). Find out how points work and how to avoid a £200 penalty.

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   What happens if I submit a VAT return late?

   • From 1 January 2023, you’ll get penalty points if you submit a VAT Return late (including nil payment returns). Find out how points work and how to avoid a £200 penalty. For VAT accounting periods starting on or after 1 January 2023, late submission penalties apply if you submit your VAT Return late. This includes nil or repayment returns.

   Penalty points and penalties if you submit your VAT Return late

   www.gov.uk/guidance/penalty-points-and-penalties-if-you-submit-your-vat-return-late

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   When should a VAT return be submitted?

   • VAT returns should be submitted for each quarter, with the deadline for filing and payment being one calendar month and seven days after the end of the VAT quarter. For instance, if your VAT quarter ends on 31st March, you would need to file the return by the 7th May.

   Late VAT Registration: Penalties and Steps to Rectify

   www.elverecommerceaccountants.co.uk/late-vat-registration/

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   How do I rectify a late VAT registration?

   • Here are the steps you need to take to rectify late VAT registration: Assess the Situation: First, assess how much VAT you owe based on the time from when you should have registered for VAT. This will help you understand the magnitude of the issue. Apply for VAT Registration: Apply for VAT registration through the HMRC’s website.

   Late VAT Registration: Penalties and Steps to Rectify

   www.elverecommerceaccountants.co.uk/late-vat-registration/

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   What happens if I fail to register for VAT on time?

   • The penalties for failing to register for VAT on time depend on the degree of lateness in registering: Not more than 9 months late: The penalty is 5% of the due VAT. More than 9 months but not more than 18 months late: The penalty is 10% of the due VAT. More than 18 months late: The penalty is 15% of the due VAT.

   Late VAT Registration: Penalties and Steps to Rectify

   www.elverecommerceaccountants.co.uk/late-vat-registration/

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4. www.gov.uk › submit-vat-returnSending a VAT Return: When to do a VAT Return - GOV.UK

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   You usually need to send a VAT Return to HMRC every 3 months. This is known as your ‘accounting period’. If you’re registered for VAT, you must submit a VAT Return even if you have no VAT to...

   • You’ll need to include: your total sales and purchases the amount of VAT you owe the amount of VAT you can reclaim the amount of VAT you’re owed fr...
   • You can submit your VAT Return: using accounting software that’s compatible with Making Tax Digital by appointing an agent or accountant using your...
   • You can correct errors in returns for the preceding 4 years, as long as the net value of the errors is either: £10,000 or less between £10,000 and...
   • If you miss the deadline for submitting your return, HMRC will send you a ‘VAT notice of assessment of tax’ telling you how much VAT they think you...
   • HM Revenue and Customs (HMRC) may charge you interest if you do not report and pay the right amount of VAT. If you pay too much VAT because HMRC ma...

5. www.gov.uk › submit-vat-return › late-returns-andSending a VAT Return: Late returns and payment - GOV.UK

   www.gov.uk › submit-vat-return › late-returns-and

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   How to do a VAT Return, pay your VAT bill, correct errors in your VAT Return, what to do if you're late with your return or payment.

6. www.theaccountancy.co.uk › vat › vat-registrationWhat Happens If I Do Not Register for VAT Once I Exceed the ...

   www.theaccountancy.co.uk › vat › vat-registration

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   Apr 1, 2023 · As well as late registration penalties, there are charges for VAT-registered businesses who are late submitting their VAT return. Contact HMRC straight away if you can’t pay your VAT bill on time. Even if you can’t pay the bill, you should still submit the VAT return to avoid additional penalties.

7. audtax.co.uk › what-happens-if-you-submit-a-lateWhat happens if you submit a late VAT return? | What to do

   audtax.co.uk › what-happens-if-you-submit-a-late

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   The late submission penalty rules won’t apply to you if: You are a new VAT-registered business, and this is your first VAT return. You are cancelling your registration, and this is your final VAT return. You are making a one-off return covering more than a month, quarter or year.

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8. www.accountingweb.co.uk › tax › business-taxLate VAT registration: Get the details right | AccountingWEB

   www.accountingweb.co.uk › tax › business-tax

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   Dec 2, 2022 · HMRC may spot a late registration when a business files its accounts or personal tax returns, but there is no guarantee, it is the trader’s responsibility to notify.

9. www.elverecommerceaccountants.co.uk › late-vatLate VAT Registration: Penalties and Steps to Rectify

   www.elverecommerceaccountants.co.uk › late-vat

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   Aug 22, 2023 · VAT returns should be submitted for each quarter, with the deadline for filing and payment being one calendar month and seven days after the end of the VAT quarter. For instance, if your VAT quarter ends on 31st March, you would need to file the return by the 7th May.