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VATF36446 | What to consider prior to determining whether to use an intervention: matters to consider when looking at particular types of taxable person or activity: creative industries tax reliefs: interventions to consider: penalties

From HM Revenue & Customs · VAT Fraud

Whenever an inaccuracy is discovered consideration should be given to raising a penalty. The type and level of penalty will depend on the individual factors of the case.

Further guidance can be found at VATF45100.