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NEIL WARREN advises on the compulsory requirement for small businesses to file VAT returns online from next year
KEY POINTS
- Tranche 2 businesses should now be getting ready for online filing.
- Little chance of exemption from online filing but HMRC will offer extra support.
- Payment can continue to be made by bank giro.
- There is a 12-month period of grace for penalties.
- Practical tips for smooth online filing.
In this article I am going to consider some of the practical issues in relation to the compulsory requirement for small businesses to file VAT returns online and pay tax electronically from April 2012.
In doing this I am going to focus on an actual client in my private practice who I will call Des and who is more than 80 years old VAT registered and in good health.
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