.png)
.png)
Summary of Revenue & Customs Brief 52/09
Revenue & Customs Brief 52/09 outlines the VAT and excise wrongdoing penalties contained in the 2008 Finance Act. A summary of the brief follows.
In essence from 1 April 2010 a new penalty regime applies where any person:
- makes an unauthorised issue of an invoice showing or including VAT;
- misuses a product so that a higher rate of excise duty is payable or supplies a product knowing that it will be used in such a way;
- handles goods subject to unpaid excise duty.
HMRC will not charge a penalty if the person has a reasonable excuse for a non-deliberate act and has remedied the act without unreasonable delay.
If the person is not registered for VAT HMRC can assess a penalty for issuing an unauthorised VAT invoice in addition to recovering the amounts charged as though they...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
