End of Paper VAT Returns
From April 2012, you will no longer be able to submit VAT Returns by paper. Instead you will be required to submit your returns to HMRC online and you will also be required to pay electronically.
The majority of businesses already submit their returns online, as since April 2010 it has been a requirement of HMRC for all businesses who have registered for VAT after this date to submit their returns online. Those who registered for VAT before April 2010 and have a VAT exclusive turnover of £100,000 and over, as of 31 December 2009, also already submit their VAT online.
The businesses that still need to register for online VAT are those who registered for VAT before April 2010 with a VAT exclusive turnover of less than £100,000.
It is advisable that businesses who still submit paper returns sign up for online services before 1 April 2012 to ensure they get used to the service. Online filing gives you extra time to file you VAT Return and is easy to use.
How To Register:
• To register for online filing go to the HMRC website https://online.hmrc.gov.uk/login and select new user
• Click on ‘Register’
• Select whether you are an ‘Individual’ or ‘Organisation (e.g. Partnership, Limited Company)’
• Select the service you are registering for (E.g. VAT (submit return or change details))
• You will then have to enter details about your business these include your VAT Registration Number, Postcode of your business, Date of VAT Registration, final month of last VAT return submitted, Box 5 figure of last VAT return submitted
• Once you’ve created your account you will be given a User ID. Print this out and keep it somewhere safe as you will need this to log onto the online services.
• You will receive activation PIN within 7 days to activate your account. Once you receive this you need to enter it a soon as possible before it expires.
If you require any assistance in registering for Online VAT Services please do not hesitate to contact us and we will be happy to help.
By Sarah Dymond
01803 500500
Disclaimer: The opinions in these articles are the views of the author of the articles and not necessarily the views of Vincent and Co and all information is correct at time of publishing. The copyright remains as the authors.
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