All VAT Returns to be filed online by April 2012

Since April 2010, newly VAT registered businesses and those with turnovers of above £100,000 had had to file their VAT Returns and pay their VAT online.  However, from April 2012, paper returns will become a thing of the past.

At the moment, anyone with an annual turnover of below £100,000 and those who have been VAT Registered since before 1 April 2010 may file their VAT Returns using the old paper format.  However, from 1 April 2012 all 1.9 million VAT Registered businesses in this country will have no choice but to file electronically.

Letters will be sent out by HM Revenue & Customs to all those affected in February 2012, letting them know the steps they need to take to ensure online filing can take place.  Anyone affected will need to register for HM Revenue & Customs online service by visiting www.online.hmrc.gov.uk, and following the onscreen prompts to complete the registration process.   Online filing also gives you;

·        Immediate acknowledgement that your return has been received.

·        An email reminder when a VAT return is shortly to require filing.

·        A warning if the figures being submitted may contain calculation errors.

At Shorts we offer a bureau service for filing VAT Returns, for any client who would prefer not to file VAT Returns electronically themselves.   For more information on this, please contact Jo Barker or call 0114 2671617.