Carter moves ahead

Posted by AccountingWEB PM | on Mon, 11/05/2009 - 03:32 2741 3 comments

Draft Regulations to require online filing for both Corporation tax and VAT have now been issued, in preparation for the implementation of the next phase of the Carter recommendations. The Regulations are open for comment until 31 July 2009. In summary, the plans are as follows :

For VAT, returns and payments will be required to be made online from April 2010 for all VAT registered businesses with turnover in excess of £100,000 and for businesses registering for VAT from 1 April 2010.

Continued...

Thanks

Malcolm Veall | Tue, 12/05/2009 - 13:53 | Permalink

Gary,

Thanks for that - I found that local offices could not amend, another thing that "the computer won't let me do", so I gave up and always filed on paper for first periods - quicker to put a piece of paper in the post than to spend time listening to recorded phone menus & still having to file on paper.

Period rejections

Anonymous | Tue, 12/05/2009 - 10:14 | Permalink

HMRC will reject periods that are filed but do not match their system or the CT603 that has been issued.

This usually happens where a company has changed to thier accounting period and has not informed HMRC about the second chargeable period (or a shorter accounting period).

At present, to resolve this involves a phone call to the office that deals with the return and the details can be updated. This takes a day or two.

Before mandation, the requirement for the period to match the CT603 dates will be removed meaning that far fewer rejections will occur because of mismatched dates.

CT Periods

Malcolm Veall | Mon, 11/05/2009 - 15:44 | Permalink

The problem that can prevent online filing is where HMRC have assumed wrong CT accounting periods, (either ignoring CT41G or setting up periods before they receive it). It used to be the case that they could not then amend the periods until they received a CT600 - which of course had to be on paper as online filings for periods that did not match up to HMRC system were rejected.

Has this been changed or will it be changed before online filing is compulsory? The real problem was that they could not amend the periods on their system once they had been set up.