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VAT late payment and interest rules

VAT returns submitted or paid late for periods starting on or after 1 January 2023 will be subject to new penalties.

This HMRC link explains how the new penalties will work: Prepare for upcoming changes to VAT penalties and VAT interest charges – GOV.UK (

More HMRC guidance will be published in December 2022.

Nil or repayment VAT returns that are late will also be subject to late submission penalty points and financial penalties.

HMRC allows for a grace period of one year – they will not charge a first late payment penalty from 01/01/2023 – 31/12/2023, if you pay in full within 30 days of your payment due date.

HMRC are also introducing repayment interest, which means that you will earn interest when HMRC are late in paying VAT you’ve claimed back.

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