Tax chiefs are urging new businesses that need to register for VAT to do it online.
HM Revenue & Customs (HMRC) said on 11 March that registering for VAT online was easier, more secure and faster than using a paper form.
The online system provides on-screen help and an immediate on-screen acknowledgment that HMRC has received an application, as well as automatic enrolment for HMRC’s VAT Online service, for e-submission of returns. It also means the business’s VAT certificate is available online.
HMRC has revamped its VAT Online service so that it now offers a new variation service – allowing businesses to change their VAT registration details – and a new online de-registration service, for businesses who want to cancel their VAT registration.
HMRC’s Gill Evans said: “Around four out of five new businesses already register online for VAT. VAT returns must be submitted online, and payments must be made electronically, so it makes sense to get online at the first stage of the VAT process, by registering via our website.”
At Milsted Langdon, our tax team have particular expertise in the complex area of VAT and can help ensure you understand your obligations. To find out how we can help, please contact us.