Changes to VAT penalties and interest from 01 January 2023
HMRC’s tax take falls by billions due to pandemic HMRC saw a drop of almost £30 billion in tax revenues in the latest financial year because of the pandemic, according to its annual accounts.In its 2020/21 annual report, HMRC reported that it had collected £608.8 billion in tax revenues, which is down from £636.7 billion…