Cookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.
VAT Online - Are You Ready?
Newsletter issue - July 2010
Compulsory online filing for VAT returns is here. The first period for which an established business with a turnover of £100,000 or more is required to submit their tax return online is the quarter ending 30 June 2010. That VAT return is due in by midnight on 31 July 2010. In fact as the VAT return is submitted online the submission date is stretched to 7 August 2010, although a VAT repayment claim must still be received by 31 July.
Businesses who always receive VAT repayments can ask to complete monthly VAT returns, in which case the first period for which they must submit their VAT return online was 30 April 2010.
Once you start to submit your VAT returns online you will no longer receive a paper form from the VAT office, or any type of paper reminder.
If you have included your email address in the information about your business in the HMRC online services page, you should receive an email reminder when your VAT return becomes due.
When you submit your VAT return online you also need to pay any VAT due electronically. One of the easiest ways to do this is by direct debit (DD), when the VATman calls the exact amount of VAT due from your account as reported on your VAT return. To allow the VAT office time to allocate your VAT return to the DD instruction, you must set up the DD instruction at least five working days before your VAT return is submitted online. Not five days before the VAT payment is due.
Please talk to us without delay if you would like us to submit your VAT returns online on your behalf.
What our clients say about us...
"Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."
ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT
"I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."
Neil Price - Managing Director at Work Relief Charity Recruitment
"Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"
Lee Westrap MBCS - Director - Bulldog IT Services
Please complete our form
to request a callback
Competitive fixed quotes
for agreed services
Increase your profit and
reduce tax liabilities
Expert advice for your
business size
