Business terms and jargon explained. Your business dictionary

What is Default Surcharge

Tax Definition:-

A civil penalty used to encourage businesses to submit their VAT Returns and pay the tax due on time. If the VAT Return and all tax due are not received by the due date, a business is in default. Calculated as a percentage of the VAT unpaid by the due date.

Crown Copyright. Material taken from HM Revenue & Customs. Reproduced under the terms and conditions of the Click-Use Licence.

<- Go Back
Business Terms Home page

Search jargon and terms database to learn more:-

A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z


Search Term   

Sub-Division Real Time Quid pro quo
Consultancy agreement Marketing Plan Credit
Tala Sub modo Act of God
CFO Faucet Value billing
GTC Stock Exchange TMI
Ethernet Stagger De jure
Lawyer Equilibrium Exchange Rate Third Country
Break up value Golden Parachutes Competitor
Al Desco Ratio decidendi Quartile
Shortfall NVR Bill of indictment
Zip High Credit Associated company
Exchange rate risk Mitigating Circumstances Zero Haven
Spoofing Lucas critique Bank of England

Term created / updated 2006-12-03 22:59:11

Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms, and to explain them in Plain English so it is very easy to understand. Getting the right understanding and knowing your business jargon will keep you informed among your peers.

Copyright © 2004-2019 Scopulus Limited. All rights reserved.