VAT - 22.07.2011

Final deadline for Internet returns

Definitive date. Most businesses are required to submit their VAT returns electronically, but some have been allowed to continue sending in paper forms. It’s been suggested several times that this concession would end next year.

Deadline. For VAT returns covering periods ending after March 31 2012, all businesses will have to submit their VAT returns online. Penalties for not doing so start at £100 and increase according to annual turnover. If you’re not registered with the Taxman for online filing, do it now. The procedure is explained at http://www.hmrc.gov.uk/vat/vat-online.

The deadline after which every business must file their VAT returns online has been confirmed as March 31 2012. Register for online services now via HMRC’s website.

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