New VAT rules from 1st April

Contractors should take note that various changes to how VAT is administered come into effect from 1st April 2010.

Firstly, any company registering for VAT after 1st April will have to submit their quarterly VAT returns online, and make electronic payments.

Any currently VAT-registered companies who turnover £100,000 or more, will also have to go online to complete their VAT obligations.

The VAT registration threshold goes up from £68,000 to £70,000 from 1st April. The deregistration limit also climbs to £68,000.

Contractors on the Clarity monthly accountancy service do not need to submit their VAT returns themselves, as we take care of this task. You will simply need to make the payment online yourself - your account manager will provide you with all the necessary details.