More Efficient Service Promised as VAT Returns Goes Online
Small businesses that do not currently fill in their VAT returns to HMRC online will need to do this from April 2012 (this year!).
The new system aims to make the process more efficient, including automatic acknowledgements and email alerts, than the current paper-based system.
What happens at the moment?
HMRC says, "Currently, only newly-registered businesses and those with turnovers of more than £100,000 have to submit their VAT online, as well as pay electronically. Anyone else can send HMRC a paper VAT return, if they wish”.
What will change?
According to HMRC, ‘all 1.9 million VAT-registered businesses in the UK will have to submit their VAT returns online, and pay electronically, for accounting periods beginning on or after April 1st 2012’.
Worried about online VAT returns?
Tarbun & Company – Chartered Accountants & Business Advisors can help
Many small business owners put the deadline for switching to online VAT returns to the back of their minds.
If this includes you, you can stay ahead of new VAT rules with Tarbun & Company – Chartered Accountants & Business Advisors. As a new, proactive firm they are always at the top of their game when it comes to sorting out VAT returns for small businesses.
And with their fixed fee structure and early settlement discount, finally having a top notch service doesn’t have to cost the earth!
For further information about Tarbun and Company and to see the testimonials that others have written about them visit their Feature on thebestof Lancaster at http://www.thebestof.co.uk/local/lancaster/business-guide/feature/tarbun--company/87635
Contact: Phil Tarbun Tel: 01524 847 632 email: firstname.lastname@example.org