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Thursday
Apr282011

Urgent VAT Warning from HMRC

With the Royal Wedding just over 24 hours away Her Majesty's Revenue & Customs (HMRC) has issued a warning. This major royal event coupled with an additional bank holiday has compelled them to remind all taxpayers the VAT returns must be filed early.

This may motivate the small and medium sized enterprises to seek out the services of a firm of accountants or book-keepers. If they haven't already done so they should, if only to avoid late payment interest and penalty charges.

In a normal calendar year, VAT returns are filed on the last day of the month. This year however, things are different. April 30th is a Saturday and with the Royal nuptials taking place on the 29th (also a public holiday) HMRC are advising  that any filing and payments must be made by today. To compound matters further, Monday the 2nd of May is also a public holiday.  

HMRC warned: Cheque payments must clear HM Revenue & Customs' account by the same date (and bear in mind that) cheques take three bank working days to clear".  

On behalf of St Matthew, I wouild like to wish Prince William and Miss Katherine Middleton every success and a long and happy life together.  

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