The UK's new penalty regime for late submission and late payment that was introduced by the Finance Act 2021 and was to apply for VAT taxpayers from 1 April 2022 has been delayed to 1 January 2023. The delay was announced in a statement from Financial Secretary to Treasury Lucy Frazer on 13 January 2022 as follows. UK HMRC has also updated related guidance to reflect the delay, including the fo…