VAT deadline 31/08/2010

[Batra Ventures UK Limited]

Batra Ventures hasnt had an accountant since May 2010 and the next VAT is due on the 31st and I havnt done it. I had online code but as I never used it, it probably has expired.

Transactions are limited, what is the quickest way to file my VAT return?

I have spoken to my accountants who will do this for me from now on but monday being bank holiday, they probably wont be of much help as its due on tuesday.

Suggestions of avoiding late please?

Regards

[Batra Ventures UK Limited]

Only 17 transactions in the last quarter and I can do it in 20 minutes or so but whats the qucikest way to send the info across to HMRC and meet the deadline?

Regards

[Batra Ventures UK Limited]

Calculated and a net repayment of £16.45 is due. What to do next? Help help help.

[Big Pete]

Calculated and a net repayment of £16.45 is due. What to do next? Help help help.

Its NO big deal ,you have 2 weeks grace ;)

[Batra Ventures UK Limited]

Its NO big deal ,you have 2 weeks grace ;)

Serious? What about all those late filing penalties etc horror stories? I have a peaceful night sleep then.

[Big Pete]

Serious? What about all those late filing penalties etc horror stories? I have a peaceful night sleep then.


1st time its a letter , you naughty boy type of thing ..
Its then on record and second time a small fine i believe ..

Dont worry sleep tight .you will not be arrested :D

[Batra Ventures UK Limited]

1st time its a letter , you naughty boy type of thing ..
Its then on record and second time a small fine i believe ..

Dont worry sleep tight .you will not be arrested :D

I am sure I should be able to file it by the end of 31st and avoid first warning and keep it for some other time. LOL

[Big Pete]

I am sure I should be able to file it by the end of 31st and avoid first warning and keep it for some other time. LOL

Oh for sure i used to keep mine until the last minute every time on principle :D Now its all online so its exactly on the day, but saves the postage ;)

[MASSEY]

The quickest way is to send it same day delivery.

I usually send things off late im lazy.

[Jaydee]

If you file online, the deadline is automatically extended by 1 week - so you have until 7 September to file without penalty.

[Batra Ventures UK Limited]

If you file online, the deadline is automatically extended by 1 week - so you have until 7 September to file without penalty.

I have registered online but havent filed any yet. Accountant used to do it until last time.

I will check to and see if I can login again.

Thanks

[Stretchy]

I dont think being late once will be a problem. I think fines are based on percentages anyway, so as you aren't making any money, fines wouldn't be anything to worry about.

As someone else said, the first time is just a 'telling off' by letter anyway.

[KM-Tiger]

As someone else said, the first time is just a 'telling off' by letter anyway.

But it remains on file for one year, and if you are late a second time in that year they do surcharge you.

Was late once by mistake - miscounted the days and was exactly one day late!

[Peasie]

First time they give you a warning.
Second time (within the year) it is a 2% surcharge. Unless it is less than £400 in which case you escape again.
Third time it is a 5% surcharge. Again if it is less than £400 you escape.
Fourth time it is 10% - no escape this time even if it is under £400.
Fifth time it is 15%.
I just noticed this is if your turnover is over £150,000.

Below £150,000 and you could escape a surcharge if it is below £400 for 4 times.

I'm not allowed to post links until I have made 15 posts so visit
http : // www . hmrc.gov.uk/vat/managing/problems/penalties.htm

[Hombre]

Phone them and explain. If you have never been late before they are very helpful. Honest. Have responded to your other post seeking JVs etc...

[See Web Solutions]

Typically a VAT return is due by 1 month following the period the return relates to.

In other words if your return period is 01/06/10 - 31/08/10 then you would have till the 30th September to file the return.

All VAT returns have to now be filed and paid online unless you were registered before the new rules came into force in April this year AND your turnover is under £100k.

Because of the new online filing rules HMRC are now allowing an additional 7 days onto the normal filing deadline meaning you now have until the 7th October to file and pay a Q/E 31/08/10 VAT return.

Hope this helps

[KM-Tiger]

Because of the new online filing rules HMRC are now allowing an additional 7 days onto the normal filing deadline ...

Correct , but that's not exactly new.

The 7-day extension, both for filing and payment, has been available for at least 5 years.

[See Web Solutions]

Sorry I do know that I just put that point accross wrong.

[Batra Ventures UK Limited]

And, I just did it online, my password was valid, hence I have successfully submitted the VAT return and noticed it had a due date of 7th Sept?

[KM-Tiger]

... and noticed it had a due date of 7th Sept?

Correct, you get an extra 7 days for online filing, and payment.

[See Web Solutions]

If the due date was the 7th Sept then your VAT return period was obviously 01/05/10 - 31/07/10 if you read my first comment I had based the due date on a Q/E 31/08/10 return.