Changes to VAT penalties and interest from 01 January 2023
Making Tax Digital for VAT HMRC has opened the Making Tax Digital for VAT (MTDfV) public pilot. However certain VAT-registered businesses (around 3.5% according to HMRC) with more complex requirements will be deferred from being subject to MTD for six months.Essentially, the public pilot is now open to sole traders and companies using standard VAT…