Rowley's Chartered Accountants Leicester

HMRC have issued guidance for businesses dealing with the increase in the standard rate of VAT from 17.5% to 20%. The change takes effect from 4th January 2011.

To reflect recent increases in fuel prices HMRC have announced new advisory fuel rates to be applied from 1st June 2010.

From 1 April 2010 all cheque payments by post will be treated as being received by HM Revenue & Customs (HMRC) on the date when cleared funds reach HMRC's bank account.

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.

To reflect the change in the VAT rate from 1 January 2010 the new rates applicable to the advisory rates* are applied per mile.