The small business guide to MTD for VAT penalties
Xero
JANUARY 23, 2023
If you’re a VAT-registered business , you may have received a letter or email from HMRC, informing you that the new penalty system for Making Tax Digital (MTD) for VAT is now in place. Businesses that frequently miss deadlines will accrue points that will translate into fines if they reach a certain points threshold.
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