VAT – default surcharge – payment after extended due date – trader’s incorrect understanding that longer period allowed – levels of surcharge questioned as being an excessive interest charge – held, payments not despatched in sufficient time to reach HMRC’s account – also held, no reasonable excuse for defaults – surcharges not interest and not in circumstances disproportionate – appeal dismissed
Citations:
[2011] UKFTT 502 (TC)
Links:
Jurisdiction:
England and Wales
VAT
Updated: 31 August 2022; Ref: scu.449449