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Where Taxpayers and Advisers Meet
VAT: Internet filing and annual accounting
14/11/2009, by Sarah Laing, Tax News - VAT & Excise Duties
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New VAT regulations have been published, which provide for electronic submission of VAT returns for traders using the annual accounting scheme. 

The Value Added Tax (Amendment) (No. 4) Regulations 2009 (SI 2009/2978), come into force on 1 December 2009 and require VAT registered businesses to submit VAT returns online and pay VAT electronically, for accounting periods which start on or after 1 April 2010.

The regulations apply to:

  • businesses currently registered for VAT who have an annual VAT exclusive turnover of £100,000 and above; and
  • businesses, irrespective of turnover, with an effective date of registration on or after 1 April 2010.

The regulations provide an exemption for businesses run by individuals who have a religious conscience objection to the use of computers and the internet. This follows from an undertaking given by Ministers in 2002 in response to representations from members of the Exclusive Brethren. There is also an exemption for all businesses that are subject to an insolvency procedure.

 

About The Author

Sarah Laing
Editor, TaxationWeb News

Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences).

Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession.

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