Urgent News - Compulsory Online Filing Of VAT Returns

From April 2010, unless your turnover is below £100k, you will have to file your VAT return (and pay any balance due) online using the internet. Visit the "do it online" section of www.hmrc.gov.uk today to sign up as a new user. You will find it useful to have a copy of your last VAT return together with the "effective date" of when you became VAT registered. This latter can be found on your certificate of VAT registration or failing that by ringing the helpline number on your VAT return (having your last copy VAT return handy for the inevitable security questions).

When you have signed up, H M Revenue and Customs will send you a password through the post that you will need to input online in order to activate your account.  Thereafter you can file online using the Revenue's website (typing in your figures) or by using compatible software automatically eg. the newer versions of Sage.

Since paying by cheque will not be possible, most will find it best to set up a direct debit instruction to pay their VAT:

• "You can either set up the DDI online if you’re the person who’s authorised to sign the returns or you can print out a form, complete it and post it to HMRC at the address on the form. You can find HMRC's Direct Debit facility through the ‘submit returns’ link on the ‘my services’ home page. This takes you to the home page for online returns, where you’ll be able to set up a DDI."

Alternatively use the billpay website provided by Alliance and Leicester (www.billpayment.co.uk) that allows you to pay using a credit / debit card in the same way as other online shopping.

If this seems like jargon don’t worry – we are here to demystify the issues & handle them for you. If you have any questions, please give us a call. 

We are keen to advise on the real issues that affect your business –  profitability, financial management, expansion plans, financial aid and minimising your tax liabilities. We can help you to improve your business – giving you up to date management information, implementing good accounting systems, planning your business & ultimately your exit strategy, reducing your tax bill & increasing your business’ value.

You can reach us on 01377 252195 or by email : savetax@jacksonrobson.co.uk

Jackson Robson Licence is the trading name of Jackson Robson Licence
Limited, registered in England, No 05941751, registered office 33-35
Exchange Street, Driffield, East Yorkshire YO25 6LL