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Feb 18, 2010

Reminder of compulsory online VAT filing

For all VAT quarters beginning on or after 1 April 2010, all registered businesses with an annual VAT-exclusive turnover of £100,000 or more and all newly-registered businesses must file their returns online and pay any VAT due electronically.

HMRC will continue to provide information leading up to 1 April on relevant issues including how to enrol for the online service and which electronic payment methods are acceptable. In February, all businesses affected by the change can expect a letter from HMRC confirming their requirement to file online from their first return period beginning on or after 1 April.

The administrative burden is likely to be greater for new businesses, those whose turnover only just exceeds the £100,000 threshold and those with only a few staff, but HMRC are providing as much support and advice as they can.

For further information or assistance please contact Bryan Freeman or your client contact at Rowley's on 0116 2827000.


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