VAT Online - full steam ahead

Posted by PM | on Mon, 16/11/2009 - 08:00 4567 3 comments

Most advisers and businesses know that VAT will be moving to a mandatory online filing requirement from April 2010. All businesses with turnover of £100,000 or more will be required to file and pay VAT by electronic methods from April, as will businesses which register for VAT from 1 April 2010, irrespective of size.

Continued...

Bank Giro

Euan MacLennan | Mon, 16/11/2009 - 10:00 | Permalink

Surprisingly, bank giro counts as "electronic payment" - see http://www.hmrc.gov.uk/payinghmrc/vat.htm#5

This should make it easier for those who are still filing VAT returns on paper to adapt to the new regime.

vat online

johnporter | Mon, 16/11/2009 - 17:27 | Permalink

Once upon a time you could right your Tax cheque on the back of a cow & HMRC would have been happy to receive it.If your old or not computer literate you may be sent to concentration camps for failing to file online or alternatively get a CA to charge the earth for doing it for you. And who said Labour were for the working man.

Bring back Maggie.

Finally good news for agents

Anonymous | Mon, 16/11/2009 - 20:15 | Permalink

Finally, non registered agents (of whom there are a significant number) can start to file returns online for their clients.

It made absolutely no sense the way it was and I know some practioners were considered setting up a different business to deal with VAT work and register this business for VAT just so they could file returns for their clients. No need for that now thank the Lord.

I look forward to hearing further from accounting web.

Jimbob