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Are YOU prepared for online filing of your VAT return?
Friday, 25th September 2009

HM Revenue & Customs have announced that from 1 April 2010, ALL VAT registered businesses with a turnover in excess of £100,000 and all newly registered businesses of any size, must submit their VAT returns online and pay any VAT due electronically.

Many businesses are not yet set up to submit online. Now is the time to consider how you will do your VAT returns, to make certain you and your systems are ready for the change. To do nothing is not an option and by acting early this will avoid potential system problems and having to change your accounting procedures at the last minute.

There are benefits to filing VAT returns online, including:-

• You get an additional seven calendar days to pay any VAT due which gives you a cash flow benefit vital in the current economic climate

• Avoids postal delays and strikes so returns are received by the due date

• No lost returns or payments and you can view your payment or repayment history on-line

• On-line help - the on-line VAT return performs automatic checks to avoid errors

Smith Cooper can help to assist you:-

• We are able to guide you or your staff through the online registration and set-up procedures and train your staff in submitting online in the future OR;

• We can register as your appointed VAT agent and then submit VAT returns online on your behalf, taking away the burden from your staff

• We can also process new VAT registrations on line for you without the need for paperwork

We can advise you on your current administrative systems to ensure VAT compliance and accuracy. With the introduction of the New Penalty Regime, it is important to ensure timely VAT return submissions are made and the information is accurate to reduce the risk and burden on your business.


Derby
Contact Stephen Kitching on telephone number - 01332 374455
Stephen.kitching@smithcooper.co.uk


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