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Policy paper

Interest harmonisation and penalties for late submission and late payment of tax

This tax information and impact note is about reform of tax penalties and HMRC interest harmonisation.

Updates to this page

From:
HM Revenue & Customs
Published:
3 March 2021
Last updated:
6 March 2024
Show all updates

  1. Draft legislation has been added.

  2. Updated the dates for when the changes will apply for Income Tax Self-Assessment customers.

  3. The new late submission penalties have been delayed. They will now begin on 1 January 2023.

  4. Update made to Late submission penalties under Proposed revisions. The first charge penalty for 31 days after the payment due date has been updated.

  5. The start date for Making Tax Digital for Income Tax Self-Assessment has been postponed until April 2024.

  6. We have updated the 'late payment' and 'impact on individuals, households and families' sections with information on tax left unpaid 30 days after the due date.

  7. First published.

Documents

Interest harmonisation and penalties for late payment and late submission

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Draft legislation

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Draft legislation (accessible version)

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Details

This measure introduces reforms to the penalty regime for late submission of tax information, late payment of tax and HMRC interest harmonisation, to provide a consistent and simpler system across VAT and Income Tax Self-Assessment (ITSA).

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