{"value":{"id":1402554,"memberId":4689,"member":null,"memberRole":"Minister of State","uin":"HLWS524","dateMade":"2022-01-13T00:00:00","answeringBodyId":14,"answeringBodyName":"Treasury","title":"Penalty Reform for VAT ","text":"<p>My right honourable friend the Financial Secretary to the Treasury (Lucy Frazer) has today made the following Written Ministerial Statement.</p><p> </p><p>In Finance Act 2021, the Government legislated to reform penalties for late submission and late payment of tax, initially from 1 April 2022,  and to align interest charges for VAT with other major taxes.</p><p> </p><p>Today, I am announcing that these changes for VAT businesses  will now be introduced 9 months later, on 1 January 2023.</p><p> </p><p>HMRC is committed to becoming one of the most digitally advanced tax authorities in the world. The ambition and pace of change needs to be balanced with  well-tested systems and  good customer service, particularly when businesses are facing additional challenges and uncertainty.</p><p> </p><p>This  extra  time allows HMRC to ensure the IT changes necessary for the new penalties and interest charges can be introduced as effectively as possible,  ensuring a high standard of service to customers.</p>","house":"Lords","noticeNumber":0,"hasAttachments":false,"hasLinkedStatements":true,"linkedStatements":[{"linkedStatementId":1402550,"linkType":"JointStatement","linkDate":"2022-01-13T00:00:00"}],"attachments":[]},"links":[{"rel":"self","href":"/Statements/1402554","method":"GET"}]}