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Do I have to pay any penalty if I don’t submit VAT return on time?

  • Post
    Kallis Roy
    Ultimate
    CA

    I have some VAT return dues on me. So will I be imposed for any penalty?

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  • Replies
      Stephen
      Enhanced
      none

      Yes, if you fail to submit return or unable to pay tax until deadline than 2% of the unpaid tax will be imposed as penalty

      Sam
      Enhanced
      GB

      Yes, Not only will you be charged a late payment penalty, but you must also file your VAT return on time. Until you pay it off, you’ll also be responsible for paying interest on that. So better to pay on time to avoid these penalties.

      Khalifa
      Beginner
      GB

      If you don’t submit your VAT return to HMRC on time, you’re not just liable for a late payment penalty. You’ll also have to pay interest on that too until you pay it.

      This Time Too Shall Pass
      Satoru
      Enhanced
      JP

      For a VAT return, you haven’t paid yet, you’ll receive a penalty, and will continue to do so for each late submission, so try to avoid doing that.

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