From 1 April 2010, if you have an annual VAT exclusive turnover of £100,000 or more you will have to submit your VAT returns online and pay your VAT electronically. Also, if you register for VAT from 1 April 2010 onwards, you’ll have to file online from the start, whatever your turnover.

But don’t worry, nothing else has changed; it’s the same form and the process is secure.

Doing your return online also helps reduce errors, provides automatic calculations and with an on-screen acknowledgment that it’s been received you don’t have to worry. What’s more, its available 24 hours a day, seven days a week, so you can do your return at a time that suits you.

If you’re using HMRC Online Services for the first time, you will have to register for an online account.

For more information go to www.hmrc.gov.uk/vat  

For further help, watch the video guide on the basics of VAT at www.businesslink.gov.uk/hmrctaxhelp

Publisher:

National Federation of Retail Newsagents

Published Date:

15-Jan-10

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News

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