Move towards compulsory online VAT filing
11th August 2011
HM Revenue and Customs (HMRC) has put forward recommendations that all VAT-registered businesses with a turnover below £100,000 should file their returns online.
Such businesses will also be required, under the plans, to make their payments electronically too.
HMRC has set a consultation in motion to pick up views on the changes.
It is proposed that the new regulations would come into effect as from 1 April 2012.
As part of the switch, businesses might also have to register, deregister and alter their details online.
The consultation closes on 31 October.