At present, 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.
But all that changes from April when the 1.9m VAT-registered traders not already required to submit online will receive a letter from HMRC in February advising them of the change and what steps they need to take.
To submit their VAT returns online, businesses need to be registered and enrolled for HMRC’s VAT online Service. To do this, they should go to www.onlinehmrc.gov.uk and click “Register” under the “new user” section, then follow the instructions. After April, HMRC will stop sending out paper returns to customers who are now required to submit online.
For details on the support available visit www.hmrc.gov.uk or phone the VAT Online Services Helpdesk on 0845 010 8500.
For those of our clients who still submit paper VAT returns but do not want to get involved in the on line filing then we may be able to help by taking on the completion of your VAT returns or even let us give you a price for doing all of your bookkeeping work thus releasing you to concentrate on more important business matters.
This article was compiled by Ashley Barrowclough on behalf of the Balance Team.