Company VAT penalty can be liability of an 'officer'

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RWB_Company_VAT_Penalty_Can_Be_Liability_Of_An_Officer

Did you know that as a manager of a company, the liability of registering late for VAT can be yours? 

Find out more by reading our latest article below.

What happens?

A recent case before the tax tribunal saw the liability for a late VAT registration penalty being passed on to a manager of the company. HMRC have the power to impose such a penalty on an individual where:

1. There is a penalty payable by the company for a deliberate failure

2. The individual on whom HMRC seek to impose liability is an “officer” of the company

3. The deliberate failure is attributable to that officer

Get in touch with us, and don't let it be you! Our team of tax experts can offer business advice and help you maximise your tax efficiency. Contact us today on 0115 964 8888 or email enquiries@rwbca.co.uk.

The views provided in this article are for general information purposes only. Nothing in this article represents advice of any nature whatsoever. Accordingly, RWB CA Limited does not accept any liability or responsibility for the information contained in this article or any decision or other action that may be taken in reliance upon the information contained within it. RWB CA Limited accepts no responsibility for any errors of fact or opinion and assumes no obligation to provide you with any changes to its assumptions.  

Tags: Financial planning Taxation Tax advice Tax planning Business advice VAT HMRC

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