Move towards compulsory online VAT filing

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.

Gibson Booth Associates

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