Since April 2010 newly-formed businesses and those with turnovers exceeding �100,000 have had to file their VAT online, but from this weekend online filing will be mandatory for all. Around 1.9 million businesses in the UK still use paper-based returns, but from Monday they will have to move to HMRC’s electronic filing system, and also pay their VAT bills online. If this number includes you, the best place to get started is HMRC’s page on moving your VAT online. Much like self-assessments and Corporation Tax, VAT carries hefty late filing penalties, so staying on top of your payments and submissions is highly advised. Luckily, HMRC’s online filing system also includes timed reminder emails to let you know when your next returns are due. Photo by�Gisela Giardino
Source: http://www.freelanceadvisor.co.uk/news/vat-moving-fully-online-this-weekend/
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