Section 59(4)

Subject to subsections (7) to (10) below, if a taxable person on whom a surcharge liability notice has been served— he shall be liable to a surcharge equal to whichever is the greater of the following, namely, the specified percentage of his outstanding VAT for that prescribed accounting period and £30. is in default in respect of a prescribed accounting period ending within the surcharge period specified in (or extended by) that notice, and has outstanding VAT for that prescribed accounting period,

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Source: legislation.gov.uk · retrieved 2026-07-28