VAT Online Services
VAT ONLINE SERVICES
As you may be aware, all businesses with an annual turnover of over £100,000 in the twelve months up to 31 December 2009 will be required to submit their VAT returns online from 1 April 2010 and also pay their VAT electronically. If HM Revenue & Customs believe that you fall into this category they should have already contacted you about this.
If you think that you fall into this group and you have not already registered for online services you should do so as soon as possible. To do this you need to access HM Revenue & Custom’s website (www.hmrc.gov.uk/vat) and have the following information about your VAT position at hand:-
- Your VAT registration number;
- Your postcode as recorded on your VAT return;
- The date you originally registered for VAT;
- The final month of the VAT return you last submitted;
- The ‘Box 5’ figure (amount due to pay/receive) on your last VAT return.
Once you have completed the registration process, you will be sent an activation code in the post. You should then go back onto the website and use this code to access your online services. Please note that this code must be used within 28 days of issue for it to remain valid. This process only needs to be completed once.
When this is done, you can start using the online services to submit your VAT returns. The online VAT return is similar to the paper return that you have been using. Another service you can avail of is the email reminder service which will remind you when your next online VAT return is due.
The other change in the rules is that from 1 April 2010 you will also have to pay your VAT liability, if any, electronically. This may be done by direct debit, internet banking etc.
If you should need assistance registering for, or using, the online services, we can help you with any of the following:-
- registering you for online services;
- preparing and submitting your online VAT returns;
- submitting your online VAT returns based on manual returns prepared by you.
Should you require any further information or assistance please contact Amanda at this office.
