VAT online deadline
February 2010
Who must file on line…..and when?
There are two categories of businesses that have no choice about online filing after 1 April 2010:
- newly VAT registered businesses with a registration date of 1 April 2010 or later any business with annual turnover exceeding £100,000
The £100,000 limit will be based on VAT returns submitted in 2009, the sales figure entered in Box 6.
How to register for online filing
It is likely there could be a last minute rush to register for online fling in March 2010. So best to be ahead of the game and register as soon as possible.
The actual registration process is very simple. However, be aware that you need five pieces of information to complete the process:
- VAT registration number
- Post code of principle place of business i.e. address where VAT returns are sent
- Date of VAT registration
- Final month when last VAT return was submitted
- Box 5 figure (tax payable or repayable) on the last return (tip – don’t enter a negative figure if the period produced a repayment)
Failure to register
HMRC have indicated they will take a soft touch approach to those businesses who do not register in good time, at least in the initial stages.
If you are at all fazed by the process by all means contact us and we will handle all the online registration formalities for you.
