Changes to VAT penalties and interest from 01 January 2023
ICAEW urges HMRC to scrap exemptions to simplify VAT rules In response to HMRC’s consultation on simplifying the rules relating to land and property, the Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to abolish all VAT exemptions and remove all VAT options.The ICAEW stated that the VAT rules regarding land…