Electronic Filing

Electronic Filing

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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

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Me!
By nigelburge
26th Jan 2002 13:43

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.

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By AnonymousUser
26th Jan 2002 15:15

Online experiences
I've used ELS before but it was already fully installed so I don't know if there were teething problems. There were the occasional glitches but provided you print off the necessary paperwork you should be able to avoid any nasty surprises.

I don't know if FBI is going to be as good. You trying persuading partnerships to shorten their names so that the return will pass validation! Or maybe that's just the software I now use!

I have to say I'm missing ELS this year. In essence it gives you about 3 - 4 days extra. You only have to wait for the individual to get their return - not send it back to you and then send it on.

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By AnonymousUser
27th Jan 2002 20:35

ELS
ELs for us is excellant - no last minute rushing to the Inland Revenue.

We do around 250 tax returns per annum and this year longer for 5 or 6 have been rejected, but accepted later

The CIS cases do take a lot longer but we no longer do not do a lot.

I have also calculated that it saves me money. The cost for CIS is about £75 per annum. There is no photocopying time as original stays on file, no photocopying cost, no postage, only having to get out file once (as reply received next day) and others matters such as a faxed copy of SA statement of account can be received within 1 day of tax return being accepted. I finished all my tax returns 5 or 6 days ago. It is now up to the clients !!!

Hope this helps

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