Posts Tagged hmrc interest rates reduced
February 9, 2009
Posted by: Kerry
Categories: BizBlog Guest, Bizpro news, Uncategorized
Tags: accountant, Bizpro, business payment support scheme, hmrc interest rates reduced, paperless, Small business update, vat return, virtual assistant
SMALL BUSINESS UPDATE
by guest blogger Phil Hendy of Moore Stephens Chartered Accountants.
THE END OF PAPER VAT RETURNS?
HMRC’s VAT Notes 4 warn that the phasing out of paper VAT returns starts in just over a year from now. From April 2010 all businesses with annual VAT exclusive turnover will have to file their VAT returns online, and any business registering for VAT will move straight to electronic returns. Businesses making their returns online will also have to pay their VAT by direct debit, but this facility allows extra time for payment, so that the VAT is not paid until at least the 10th of the following month.
HMRC’s VAT Notes 4 warn that the phasing out of paper VAT returns starts in just over a year from now. From April 2010 all businesses with annual VAT exclusive turnover will have to file their VAT returns online, and any business registering for VAT will move straight to electronic returns. Businesses making their returns online will also have to pay their VAT by direct debit, but this facility allows extra time for payment, so that the VAT is not paid until at least the 10th of the following month.
