Although no official announcement has been made, the UK’s accountants have been informed that VAT returns will have to be done online from April 2012.
The current rules stipulate that those earning over £100,000 a year have to file their returns online but this will now be extended to all businesses.
The Chartered Institute of Taxation (CIOT) is concerned that the systems currently in place may not be adequate for small business owners across the board. As a result, they’re asking taxpayers if they’ve been having any problems trying to file returns online.
This further hammers home the importance of having access to a truly user-friendly online filing software. If many online accounting systems remain littered with accountancy speak and confusing processes, then many contractors, freelancers and small businesses accustomed to filing offline, may be in for an infuriating time.
And online accounting software needn’t be that way. Any worthwhile online system should be clear and simple to use – not an intimidating display of small buttons and infinite options which take an age to understand. Small business owners have enough to do without spending unnecessary amounts of time on their accounting.
If you would like to enquire about online accounting and how Crunch can help, give us a call on 0844 500 8000.