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Businesses to get letters about online VAT filing. Pearson May News Update - Tuesday 16 February

  1. Businesses to get letters about online VAT filing
  2. Reform the tax regime to help businesses grow
  3. Business group contests banks’ view on lending

Businesses to get letters about online VAT filing

Businesses that meet the new rules for online VAT filing are being sent letters by HM Revenue and Customs (HMRC) informing them of the changes.

Under the new rules, businesses that have an annual turnover exclusive of VAT of over £100,000 and all newly registered firms will need to submit their VAT returns electronically as from 1 April 2010.

One of the criteria for online registration is the date on which businesses registered for VAT, and HMRC has included this information in the letters.

New businesses without a full year's VAT history may be told that they will have to submit online if HMRC calculate that their turnover will be more than £100,000.

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