HMRC moves to charge interest on ESS penalties
New powers and penalties introduced in Schedule 14 to the Finance Act 2022 made it an offence to possess, make, supply or promote Electronic Sales Suppression (ESS) tools. HMRC have previously contacted businesses (using their ‘One to Many’ campaign) that they suspect may not have paid the correct Income Tax, Corporation Tax and/or Value Added Tax due to the use of ESS tools in their till systems.
HMRC are now seeking views on draft regulations which will allow interest on late payment/repayment of penalties for ESS tools under sections 101 and 102 of the Finance Act 2009 to be charged from 4 March 2024. Comments on the draft regulations should be sent to [email protected] by 11:45pm on 24 November 2023.