We wish to switch to electronic filing for the next tax year and would be interested to receive user comments on the Inland Revenue's system.
We do an enormous amount of CIS repayment cases and are keen to speed up the time it takes to get money through. Does the fact that you would still have to submit the CIS25 vouchers by post nullify the benefits received by e-filing?
Any contributions gratefully received!
Paul Evans
Replies (3)
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ELS
We have been using Electronic filing since 1997 and many of our clients are repayment (including CIS25) cases.
The Revenue issue the tax repayments as soon as the Tax Returns are processed, often the same day. Usually, a repayment cheque is received within a week of the Return being submitted electronically.
There is no difference with CIS25 cases. We send the vouchers to the IR after the return has been submitted but it seems that no effort is made by the Revenue to actually tie these up with the Tax Return.
Although we use ELS, I cannot see there being any difference with FBI.
Go for it and go electronic. I believe that the benefits of also submitting accounts etc. with the Return are illusory for most Tax Return cases.