VAT Returns

Part of Oral Answers to Questions — Treasury – in the House of Commons at 2:30 pm on 3 November 2009.

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Photo of Stephen Timms Stephen Timms Parliamentary Under-Secretary (Department for Business, Innovation and Skills) (Digital Britain) (also HM Treasury), Financial Secretary (HM Treasury) (also in the Department for Business, Innovation and Skills) 2:30, 3 November 2009

Businesses turning over more than £100,000 per year, and all newly registering businesses, will be required to file online from 1 April. Savings of about £4 million a year are expected within three years as a result, but the main reason for the change is to make the service work better-fewer errors, faster turnarounds and an extra seven days before businesses have to pay the tax due.