penalty for repeated errors

penalty for repeated errors

Accounting dictionary. 2014.

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  • 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

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