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Please note: VAT Misdeclaration Penalty has been replaced by the Schedule 24 inaccuracy penalty for all accounting periods where the return period commences on or after 01/04/2008 and the due date is on or after 01/04/2009. Misdeclaration penalty will still apply where the due date is before 01/04/2009.

Please see the Compliance Handbook CH80000 Penalties for Inaccuracies for further details.

When a penalty arises you should.

• Notify the trader of the period(s) assessed. For guidance on what your letter of notification should contain, see the specimen letter at VCP10812.
• Input on VALID a separate VAT 292Ìýfor each period for which a penalty has been assessed, see VCP10814. Both copies of the VAT 292Ìýshould be clearly headed in red “VCP10812 Letter issuedâ€�.

Retired SystemsÌý

For information about retired VAT systems go toÌýVCP10140Ìý

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