HMRC confirmed last month that it is phasing out paper VAT returns. From April 2010,…
You may shortly receive a letter from HMRC advising of the future changes to online filing of corporation tax returns. The changes are that from 1st April 2011 it will be compulsory for all companies, clubs, associations and any other organistation that pays corporation tax to submit their returns online and also to pay their tax online.
April 2011 may seem a long way off at the moment, but the change affects all companies with accounting periods that end after 1st April 2010, where the tax return is filed after 1st April 2011.
Accountancy Extra Approach
At present, companies can choose whether they file their returns online or not, and only a small percentage do so. At Accountancy Extra, we now file all our Corporation Tax returns (and come to mention it, all of our self assessments and PAYE returns) online. Therefore, as a client of ours, there is no need to worry about the proposed changes and any letter received from HMRC.