VAT filing is set to become compulsory for every registered business. As from 1 August 2012, online registration for and deregistration from VAT will be compulsory for all.
What’s more, VAT-registered businesses with a VAT exclusive turnover under £100,000 per annum will be required to file returns online as from 1 April 2012. Since April 2010, this rule has only applied to those businesses with an annual, VAT exclusive turnover exceeding £100,000 and newly registered businesses.
Getting things right on VAT can be a major concern for many businesses. Should you need any help on making sure you deal with your VAT returns and payments in the most efficient way, do contact us.