HM Revenue & Customs are pressing ahead with the drive to require all businesses to file returns online.
From April 2010, all VAT-registered businesses with an annual turnover of £100,000 or more and all newly registered businesses, regardless of the level of their turnover, will be required to file their VAT returns online and will have to make their VAT payments electronically. Businesses with a turnover of less than £100,000 are expected to have to file their VAT returns online and pay electronically by 2012.
Procedures for filing VAT returns online have been simplified so that it is possible to enrol and submit a VAT return online, in a single session, without waiting for an activation PIN from HMRC. If a business is already registered with HMRC for other online services it is easy to add VAT as a further online service. HMRC are also making it easier for agents to file returns online for their clients.
VAT returns went out to businesses are accompanied by a Note from HMRC giving a brief overview of the proposed changes. This will be followed up by a mailshot to all VAT-registered businesses in April 2009.
HMRC are trying to provide special help for smaller businesses to help them to make the transition to online filing.
From April 2009, all employers who have 50 or more employees must file starter and leaver (P45s and P46s) forms online.
Other enhancements to online services are under consideration including a facility to allow businesses and tax professionals to view returns that have previously been submitted online.
The information in this article was correct at the date it was first published.
However it is of a generic nature and cannot constitute advice. Specific advice should be sought before any action taken.
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