online vat returns

Don’t be April Fools – Do Your Online VAT Returns

The ICAEW has urged smaller businesses to make sure that they are prepared for the 1st April deadline from when VAT returns must be filed online. Currently, only 14% of companies file their returns online but on April Fool’s Day it becomes compulsory. From 1st April 2010, businesses with an annual turnover of £100,000 or more and all newly VAT registered businesses, must submit their VAT Returns online and pay VAT electronically. This applies to VAT returns for VAT return periods starting on or after 1st April. Existing smaller businesses are only off the hook until next year. The government announced before Christmas that it intends to make all businesses e-file their VAT returns from 2011 – one year earlier than expected. Anita Monteith, Technical Manager from the ICAEW... »