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Penalties for inaccuracies on returns

Posted by AccountingWEB in Tax on Mon, 16/02/2009 - 08:00

This central resource provides links to articles, questions and other information on the new penalty system commencing in 2009. The information is relevant to ALL businesses, and is intended to help you avoid penalties for mistakes on returns.

The legislation

The new penalty legislation appears in Schedule 24 to the Finance Act 2007. It is clear, modern legislation which in case of difficulty with a technical point is easy to read and understand for all but the layman.

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