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Chartered Accountants | Business Development Specialists | Registered Auditors.
Abbey House, 342 Regents Park Road, Finchley, Barnet, London, N3 2LJ
(Also offices in Milton Keynes, Buckinghamshire)
Growing your business is our business
Sitting at your computer terminal to do your online tax filing will become an everyday feature for all sizes and forms of business over the next two to three years. Certain returns made by larger businesses already have a compulsory online filing requirement but this is gradually being extended across the taxes to all businesses.
The online filing rules here depend on whether the business has more or less than 50 employees. A business with more than 50 employees is already filing the Employer Annual Return online, (the forms P35 and P14s). In addition there is a requirement to file certain 'in year forms' online - such as the relevant parts of a P45 or a P46. These forms are used when an employee leaves or starts.
For a business with fewer than 50 employees, the end of 2009/10 will mean compulsory filing for the first time of the Employer Annual Return. Compulsory online filing of the 'in year forms' will then apply from 6 April 2011.
If turnover is more than £100,000, you will have to file your VAT return online and pay electronically for accounting periods that start on or after 1 April 2010. This will also apply for any new VAT registrations on or after 1 April 2010, regardless of the turnover.
From 1 April 2011, for any accounting period ending after 31 March 2010, all companies will be required to file the company tax return (including supporting documentation) online.
Whilst the change is some way away, it's a good idea to consider whether your software will be able to handle the new Extensible Business Reporting Language (XBRL) data format, particularly if you are thinking of investing in new software in the near future.
If you would like further information on how we can assist with online filing, do contact us.
Autumn 2011 headlines
We provide four Quarterly News Journals packed with useful breaking news, all intended to keep you up to date with the latest information. We display one years worth of news, just in case you have missed something.
We provide four Quarterly News Journals annually, packed with useful breaking news, all intended to keep you up to date with the latest information. We display one years worth of news, just in case you have missed something.
We offer of all four of our quarterly news editions (AND the Budget Edition) in printed form to all our clients free of charge. Call us on 0800 146134 or contact us to subscribe.