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Sharing our knowledge

Working for years in the accounting industry has provided us with a wealth of knowledge across all areas of compliance. So we think it’s important to share this with our clients.

Here you’ll find a wide range of in-depth articles that clarify some of the more pressing business and industry issues and answer any of your questions about the world of accountancy.

New VAT penalty regime

On 1 January 2023, a new late payment and points-based penalty regime was introduced which replaces the VAT default surcharge. The new penalty system applies to accounting periods which start on or after 1 January 2023.

There are separate penalties for late submission of VAT returns and late payment of VAT. The way in which late payment interest is calculated has also changed.

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