Toggle sidebar

VAT deadline 31/08/2010

Sort by date Sort by votes
QuickHomeBuyers

QuickHomeBuyers

Free Member
Jan 9, 2010
2,218
192
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
 
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
 
Upvote 0
Big Pete said:
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
Click to expand...

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
 
Upvote 0
If you file online, the deadline is automatically extended by 1 week - so you have until 7 September to file without penalty.
 
Upvote 0
Jaydee said:
If you file online, the deadline is automatically extended by 1 week - so you have until 7 September to file without penalty.
Click to expand...

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
 
Upvote 0
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.
 
Upvote 0
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
 
  • Like
Reactions: QuickHomeBuyers
Upvote 0
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...
 
Upvote 0
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
 
Upvote 0
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?
 
Upvote 0
You must log in or register to reply here.

Similar threads

B
Unlawful forfeiture
Replies
6
Views
2K
Legal, Employment and Insolvency
Paul Kelly ICHYB
Paul Kelly ICHYB
E
CVL vs Time to Pay
Replies
9
Views
3K
Legal, Employment and Insolvency
Lisa Thomas
Lisa Thomas
MikeB03
VAT enquiry
Replies
14
Views
6K
Accounts & Finance
UK Contractor Accountant
UK Contractor Accountant
B
Complicated fraud/VAT/refund advice?
Replies
5
Views
2K
Accounts & Finance
Mark T Jones
Mark T Jones
B
VAT Periods - Online Sales
Replies
9
Views
2K
Accounts & Finance
AmazonGeek
AmazonGeek

Latest Articles

Top Bottom
Back