No penalties for late filing of first MTD VAT return

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HMRC have said that businesses will not be penalised for late submission of their first MTD VAT return. They added: ‘Although we will not penalise them, they will receive a letter from us telling them that they missed the deadline and asking them to take action.’ An HMRC press spokesperson confirmed this was because of the department’s ‘longstanding commitment to have a soft landing for businesses during the first year.’