- repeated misdeclaration penalty
- A penalty HM Revenue & Customs may impose where repeated or significant misdeclarations have been made on VAT returns. HM Customs & Revenue Glossary
Financial and business terms. 2012.
repeated misdeclaration penalty
Look at other dictionaries:
persistent misdeclaration penalty — A penalty used in the collection of value added tax. It applies when there has been a material inaccuracy in a VAT return, being the lower of £500,000 and 10% of the total true amount of VAT due for the quarter. The trader must also have received … Accounting dictionary
persistent misdeclaration penalty — A penalty used in the collection of value added tax It applies when there has been a material inaccuracy in a VAT return, being the lower of £500, 000 and 10% of the total true amount of VAT due for the quarter. The trader must also have received … Big dictionary of business and management
penalty for repeated errors — See: persistent misdeclaration penalty … Accounting dictionary
