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HMRC internal manual

VAT Civil Penalties

From
HM Revenue & Customs
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Misdeclaration penalty: Discretion, reasonable excuse, and mitigation: Under-declaration would have been corrected in the next return

Please note: VAT Misdeclaration Penalty has been replaced by the Schedule 24 inaccuracy penalty for all accounting periods where the return period commences on or after 01/04/2008 and the due date is on or after 01/04/2009. Misdeclaration penalty will still apply where the due date is before 01/04/2009.

Please see the Compliance Handbook CH80000 Penalties for Inaccuracies for further details.

For all visits after the 20 March 1991 a period of grace will need to be considered, however there will only be rare occasions when permission to override the concessions will be granted, see VCP10757 for the period of grace relaxation.