1 March 2010

Major changes for VAT and PAYE

HM Revenue & Customs (HMRC) has launched its first ever 'Super Podcast', to alert businesses to major changes in the way they file and pay VAT, PAYE and corporation tax.

The free, audio podcast highlights important VAT changes coming in on 1 April 2010, which mean VAT-registered traders with annual turnovers of £100,000 or more (excluding VAT) will have to file their VAT returns online and pay their VAT electronically, while all businesses registering for VAT from April will have to file their returns online and pay electronically.

The Super Podcast, featuring HMRC experts Stephen Banyard and Don Macarthur, also covers three other key areas: the need for all employers to file their Employer Annual Returns online from this spring; new penalties for late payment of PAYE being introduced in May; and key changes to corporation tax filing and payment coming in next year.

Stephen Banyard, Director of HMRC’s Business Customer Unit, said:

"Our Super Podcast is a great way for businesses to remind themselves about some of the major changes on the horizon affecting VAT, PAYE and corporation tax. So whether you’re a VAT-registered trader, employer or limited company, we’d urge you to take 15 minutes to download and listen to it, to help ensure you’re prepared for the changes."

The HMRC Super Podcast can be downloaded from HMRC’s podcast pages at www.hmrc.gov.uk/podcasts

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