![A typed page of legislation with a stamp of the word 'DRAFT' stamped onto it. A typed page of legislation with a stamp of the word 'DRAFT' stamped onto it.](/sites/default/files/styles/responsive_4_3_600w/public/2024-06/draftl1.png?h=52a34de5&itok=6d9Nqjzu)
Draft legislation: The Penalties for Failure to Pay Tax (Assessments) Regulations 2024 - joint LITRG and CIOT response
Penalties for late payment of tax are being reformed. The new rules have applied to taxpayers in respect of VAT obligations since 1 January 2023 and to taxpayers voluntarily in scope of Making Tax Digital for Income Tax Self Assessment since 6 April 2024. LITRG and the CIOT have commented on th...