Friday, May 08, 2009

Compulsory Online Filing of VAT Returns from 2010?


HMRC have introduced draft proposals to make online filing of VAT Returns compulsory from 2010.

The proposals would make it compulsory for businesses of new VAT registrations and businesses whose annual turnover exceeds £100,000 to file their VAT Returns online.

At C Todd & Co we are registered as an agent for HMRC's online services.

For our clients who prepare their own VAT Returns C Todd & Co offer a free service to our clients to file those VAT Returns online.

Please remember that currently HMRC allow businesses who file their VAT Returns online an extra 7 days to submit the Return beyond the normal month end deadline.

If you also pay by Direct Debit the payment will not leave you bank until a minimum period of 10 days after the payment date when paying by cheque.

Maybe now is the time to consider online filing of your VAT Returns.

C Todd & Co ~ Chartered Certified Accountant in Broomhill, Sheffield ~ www.c-todd.com

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