Are you ready for online filing of your VAT return?

From April 2010, all VAT registered businesses with a turnover of more than £100,000 and all newly registered businesses of any size, will be required to submit their VAT returns online and pay any VAT due electronically.

There are a number of benefits to being online, to sweeten the switch- over pill :-

• No postal delays (no more lost cheques) and full payment history to view on-line
• On-line help - the on-line VAT return performs automatic checks to avoid errors
• An additional seven days in which to pay any VAT past the due date (often ignored, but a great cash flow incentive for almost every business)

If you are not yet set up to submit online, you should consider doing so as soon as possible, to ensure that you and your systems are ready for the new requirements next year. Do you want to be the last to do so and face the potential of system crashes and having to change your accounting procedures at the last minute?

HW, Chartered Accountants can assist you in a variety of ways :-

• We can guide you through the online registration and set-up procedures, or train your staff to be confident in submitting online in the future
• We can register as your agent and submit VAT returns online on your behalf, taking away the burden of administration from your staff
• We can process your VAT registrations. No signatures or paperwork – just answer a few questions and leave the rest to us

Why not change over to on-line now and benefit from the cash flow and administrative benefits that on-line submission can bring. Freeing up staff time to do other tasks and holding onto VAT just that little bit longer before needing to pay it over may help your business in the current climate.

We can advise you as to how to register for on-line submission, ensuring the switch over is as smooth as possible, as well as checking and, where appropriate, advising on your current administrative systems to ensure compliance and accuracy. With the New Penalty Regime now effective from 01 April 2009, it is more important than ever to ensure timely VAT return submission and accuracy to reduce the risk and burden on your business.