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Hii open tuition,
I am having a confusion on what happens if the vat return of both 30 sept 2017 and 31 dec 2017 are submitted in january 2018.Does the VAT due for 30 sept result only in a surcharge liability notice even though it was still due at 30 dec? OR
Does the VAT due on 30 sept that result in a surcharge notice also incur a penalty of 2% as it was still due at december and the penalty for VAT due for dec at 5%?
Thanks in advance
If the return for the quarter to 30 September 2017 was not submitted until January 2018 and it is the first such late submission then HMRC will issue a Surcharge Liability Notice that will run to 30 September 2018. If the return to 31 December 2017 is also submitted in January 2018 then this return is submitted on time and no penalty will be charged and the notice will continue to run to 30 September 2018
Thank you very much Sir. A last question please: in the same scenario where return for sept 2017 is submitted in jan 2018 but lets suppose the return for december 2017 is not submitted until july 2018..does the penalty rate on the dec 2017 return remain at 2% even though it is 6 months late?
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