Online filing
Online filing of VAT returns and electronic payment of VAT is mandatory for all those who:
a) Have become VAT-registered on 1st April 2010 or later
b) Have already been VAT-registered and have a net annual turnover (excluding VAT) of £ 100,000 or more
Cheque payments
VAT payments made through cheques will be treated as received by HMRC only on the date funds have been cleared in to HMRC bank account, not the date on which HMRC received the cheque. So businesses sending cheques by post must allow sufficient time for payments to be cleared in to the HMRC account by the due date shown on the VAT return to avoid a surcharge. Alternatively, they could make VAT payments by Bank Giro in which case this clause will not apply. This is because payments by Bank Giro are treated as electronic which means that businesses will get up to an extra seven calendar days for the cleared payment to reach HMRC
Penal charges
Any person charging VAT and then not paying over the HMRC will now be subject to a new VAT wrongdoing penalty which will be a percentage of the unauthorised VAT collected.
