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April 03, 2012

VAT-registered firms reminded to complete returns online

All 1.9 million of the UK’s VAT-registered businesses must submit their VAT returns entirely online from 1 April, HM Revenue & Customs (HMRC) has said, writes Georgina Harris.

Before 1 April only newly-registered businesses and those with a turnover of more than £100,000 have to submit their returns online. Anyone else could send HMRC paper returns if they wish.

However, HMRC has now abolished paper VAT returns. Businesses will have to send their accounting details, and payments, via HMRC’s VAT online service.

The new online system offers several advantages including checking that firms figures are correct, acknowledging that returns have been received and sending an email reminder about the next return due date.

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