News

Vat Returns – No paper left.

From April 2010 the new rules on filing VAT returns came in. Almost all businesses are required to file their returns electronically from that date and pay electronically as well. Unfortunately HMRC have found that a third of businesses are ignoring the new rule. So from 1^st April 2011 any returns filed on paper will incur a penalty of £200.

There is an exception for small businesses i.e. those with a turnover of less than £100,000, registered for VAT before 1^st April 2010. They have an extension until 1^st April 2012. 

So switch on or dump paper on your advisor so that we can file for you.