This article looks at the points-based penalty regime being brought in for the late filing of VAT and income tax self-assessment (ITSA) submissions. In particular it considers whether the penalties will achieve their aim of making sanctions for failing to file proportionate, consistent, fair and certain across major taxes. The content is based on Finance Bill 2021, cl. 112 and Sch. 23, as published on 11 March 2021 and other announcements. As the legislation has not yet been enacted the details are subject to change.