Paper Vat Returns

摘要

VAT Notes No 4 2008 announced that the paper VAT return is to be phased out effective from 1 April 2010 for VAT-registered businesses with a net turnover of ￡ 100,000 or more. The very small traders that fall below this threshold are likely to lose their right to use a paper medium some time during 2012, although this is yet to be fully decided. This means that the majority of businesses, which in any case fall to be registered for VAT, will have to go over to electronic submission.