HM Revenue & Customs’ have announced that they plan to phase out paper VAT Returns from April 2010.
Registering and submitting your return online will soon become compulsory.
The standard rate of VAT is due to return to its previous level of 17.5% on 1 January 2010.
Although specific rules were put in place to ensure that VAT was accounted for at the correct rates on the way into this scheme HM Revenue and Customs were quite relaxed about this due to the short notice given to implement the changes. However, it is unlikely that they will be so relaxed with the VAT treatment of transactions around the time of the increase to 17.5%.
In addition to the usual or traditional services provided by most firms of Chartered Accountants, we offer a range of IT and Business Services to assist our clients to meet their business responsibilities.
Our aim is to provide a range of pro-active services that provide peace of mind to the business owner that financial control is maintained, so they can concentrate on running their business.