Changes to VAT penalties and interest from 01 January 2023
Committee warns small businesses ‘could pay heavy price’ for MTD The Economic Affairs Committee has warned HMRC that small businesses ‘could pay a heavy price’ for Making Tax Digital for VAT (MTDfV).The Committee stated that HMRC has’failed to adequately support small businesses’ ahead of the introduction of MTDfV.MTDfV is generally set to come into effect…