Minimising interest and penalties

1. Record keeping obligations and penalties

1.1. Accounting records

1.1.1. Company law

1.1.2. Tax law

1.2. VAT records

1.3. PAYE, NICs and benefit records

1.4. CIS records

2. Payment requirements and interest and penalties for late payments

2.1. Corporation tax

2.2. Income tax

2.3. VAT

2.4. PAYE, NICs and CIS deductions

3. Reporting obligations and penalties for failures

3.1. Company reporting

3.2. Corporation tax

3.3. Income tax

3.4. VAT

3.5. PAYE, NICs and benefits

3.6. CIS

4. Penalty mitigation

5. Interest minimisation