You may shortly receive a letter from HMRC advising of the future changes to online…
HMRC confirmed last month that it is phasing out paper VAT returns. From April 2010, if your busienss turnover is greater than £100,000 or you are newly VAT registered, you will have to complete and pay your VAT online. Those business who fall out of those criteria will still be able to file a paper return.
Accountancy Extra are already onto these changes. If we currently prepare your VAT return, we’ve already started to migrate clients to electronic filing. If we don’t, we’ll be posting a guide on how to do this yourself very shortly.
Even though we have almost 12 months to implement these changes, we recommend adopting them as soon as possible. It’s better to be dealing with this at your own pace, rather than discover that you don’t have the know how or technology to cope with the changes at the last minute!