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Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.

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Online VAT deadlines

Midgley Snelling Chartered Accountants are warning businesses that HMRC has announced that VAT returns covering periods ending after 31 March 2012 will have to be submitted online rather than in paper form.

James Beecher from firm said “Since 1 April 2010 most VAT-registered businesses have had to submit online returns and pay electronically. At the moment, the only businesses which have been exempt have been registered for a long time and have an annual turnover of below £100,000, although they too will have to file online from April next year”.

Penalties for not submitting online returns start at £100 and increase according to annual turnover. It is therefore important to register for online services via HMRC’s website as soon as possible.

For more information contact Midgley Snelling on 01932 853393.

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