VCP11412 - New Means of Transport: Why a penalty arises: »Ê¹ÚÌåÓýapp Law supporting the penalty

Please note: the Section 67 VATA 1994 penalty has been replaced by the Failure to Notify penalty introduced by Schedule 41 Finance Act 2008. »Ê¹ÚÌåÓýapp Failure to Notify penalty applies to obligations to notify the acquisition of a new means of transport on or after 01/04/2010. »Ê¹ÚÌåÓýapp penalty under Section 67 VATA 1994 continues to apply where the obligation to notify the acquisition of a new means of transport occurs before 01/04/2010.

Please see the Compliance Handbook CH70000 for more information about the Failure to Notify penalty.

Penalties for a breach of New Means of Transport (NMT) requirements are supported by the legislation at

  • Schedule 11 of the Value Added Tax Act 1994.
  • Regulation 148 of the Value Added Tax Regulations 1995 (SI 1995/2518).