Sales Tax State Activity Update - February 2009

UK Mandates E-File for VAT

HMRC has announced plans that require certain businesses to E-file their VAT returns. Effective April 1, 2010, all taxpayers with an annual turnover of 100,000BP or more and all newly registered businesses, regardless of turnover, will be required to file their VAT returns and pay the tax electronically. Taxpayers who do not meet that criteria will continue to have the option of submitting paper returns, however, it is likely that HMRC will mandate that all taxpayers E-file in 2012.

Taxpayers who E-file also receive a benefit over those that don’t in that they get seven additional days to submit returns and three extra days to pay the tax due.

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