HMRC issues online VAT reminder

Date: 25/01/2012

Companies looking to streamline their day-to-day operations by investing in 0800 numbers may be interested in a reminder issued by HM Revenue & Customs (HMRC) relating to VAT returns.

The body has warned all companies that from this spring onwards all VAT-registered organisations must be submitted online.

Returns from accounting periods beginning on or after April 1st 2012 will need to be sent electronically going forward, with all traders due to receive a letter next month informing them of the change.

Currently, only newly-registered businesses and those with turnovers of more than £100,000 have to submit their VAT forms in this manner.

It is thought the move towards eradicating paper returns will have a number of benefits for firms including an automatic acknowledgement their form has been received.

Individuals unsure how to submit their details online can phone for free advice or follow a step-by-step guide on the HMRC's webpage.