Default surcharges are penalties raised by HMRC mainly in relation to late VAT returns and payments. These are raised by computer automatically based on facts. When a real life HMRC officer gets involved and hears a traders case, more than half surcharges reviewed are cancelled. If you receive any penalty, or indeed any letters from HMRC, get in touch with us. We may be able to help….
As with all of our tax tips and web pages this information is necessarily summarised and of a general nature. If you would like detailed specific advice please contact us.