Penalties - Current Frameworks, including for MTD

OBJECTIVES

You will gain an overview of the penalty regimes that apply to the main UK taxes, and the latest developments with regard to penalties.

In particular we will take a close look at the new late filling and late payment penalties which will be introduced alongside Making Tax Digital (MTD) for Income Tax regime which will be rolled out to all self-assessment  tax payers (whether MTD or not) from April 2027. 

We will also take a look at other upcoming changes to penalties, including the proposed modifications to the inaccuracy penalty regime.

KEY TOPICS

• Late filing and late payment penalties, including the new rules for self-assessment.
• Inaccuracy penalties, taxpayer behaviours and the proposed changes to the regime.
• Error correction under PCRT and the penalty component of making a disclosure to HMRC.
• Other recent and upcoming penalty changes.

WHO SHOULD ATTEND

Partners and managers responsible for reviewing tax work and assisting clients in avoiding or minimising tax penalties.