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Tuesday
Mar232010

HMRC launches free Podcast of how to register for online VAT returns

Earlier this week, I was looking at the HM Revenue & Customs website to find out more about the new online tax declaration rules and came across their new ‘Super Podcast’. I’m happy to see that HMRC have taken steps to expand their ways of communicating with their customers by using new technology available to most of us. The Super Podcast is a free downloadable audio file that neatly sums up most of their upcoming changes.

The podcast features two key HMRC staff, Stephen Banyard and Don Macarthur, discussing in a manner more akin to a breakfast radio show, the changes to the way in which businesses file and pay their VAT, PAYE and corporation taxes. The key point to note is that the changes come into effect on the 1st of April this year.

The key messages in the podcast cover the new rules coming into effect from this April. Primarily the podcast covers the new compulsory requirement for any VAT registered business with an annual turnover of £100,000 (excluding VAT) to lodge their return online. They also explain that if this affects you, you will need to make your VAT payments electronically online or by bank transfer. Gone are the days of being able to send in a cheque.

The way the podcast has been delivered gives the impression that HMRC are becoming a more approachable and friendly organisation. It’s definitely a move I welcome and feel that it’s the next step in approachability since launching the Business Payment Support Service.

If you think you may be affected by any of the new changes, I recommend that you make yourself familiar with the new rules. You could download the podcast or a transcript of it from the HMRC website (http://www.hmrc.gov.uk/podcasts).

Alternatively for a friendly and tailored to your needs discussion, contact one of our advisors to discuss how we can assist you in ensuring you are compliant with the new rules.  We file hundreds of tax returns each year and are well equipped for the new rules.

 



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