HM Revenue & Customs (HMRC) are issuing a reminder to businesses affected by the new requirement to file VAT returns online and pay VAT electronically.
All VAT registered businesses with a turnover of £100,000 or more and all businesses that are newly registered for VAT from 1 April 2010, whatever their turnover, will have to file their VAT returns online. These affected businesses will also have to pay any VAT due electronically. These changes apply to quarters commencing on or after 1 April 2010.
The first quarterly VAT returns affected by the changes are those covering April to June 2010, which for most businesses must file online by 7 August.
If you haven't already, you can register for a HMRC online account for VAT or any other service. Please note that you can have one HMRC account to deal with all matters of your business relating to HMRC.
For more information please read our previous news article about filing VAT returns online and paying VAT electronically.