If you're still submitting VAT returns on paper, be prepared to switch to doing it online by next April. You'll also be required to make VAT payments electronically, rather than sending a cheque.
At the moment firms with a turnover in excess of £100k, or which are newly registered, are required to make their VAT returns online and make electronic payments.
But all returns and payment for VAT accounting periods starting on or after 1 April 2012 must be processed online and electronically, for firms of all sizes.
HMRC is encouraging businesses to switch from paper to online processing as soon as possible, to avoid the last minute rush.
The benefits of online filing of a VAT return include:
- an automatic acknowledgement that your return has been received
- a useful arithmetic checker to help make sure you’ve done your sums correctly
- an email alert to remind you when your next online return is due (after April, HMRC will stop sending out paper returns to customers who are now required to file online).
To file your VAT return online, you’ll need to register for HMRC’s VAT Online Service – visit www.online.hmrc.gov.uk and click “Register” under the “New user” section. Then follow the instructions.
You'll also need to set up your preferred method of electronic payment. Visit www.hmrc.gov.uk/payinghmrc/vat.htm for more information on the options available.
More help and advice can be found on the HMRC’s website at www.hmrc.gov.uk/vat. If that doesn’t answer your questions, call the VAT Online Services Helpdesk on 0845 010 8500 (available between 8am and 6pm, Monday to Friday).
