VAT returns going online only is no April fools
From 1 April 2010, businesses with an annual turnover of £100,000 or more and all newly VAT registered businesses, must submit their VAT Returns online and pay VAT electronically.
Speaking, this morning on the Andrew Marr show on BBC1, he outlined a number of plans to ensure that British business overcomes the current global recession and ensures that it becomes one of the best places to start, run and grow, a business in the world. Snow costs UK economy £690million per day The freezing weather conditions and snow have forced millions of people to stay at home, with road and school closures preventing them from working. With the bad weather set to continue for another three weeks, insurer RSA predicts that a day of severe snow could cost the UK economy as much as £690million a day as businesses lose out to the weather. Mandelson to announce an extra bank holiday in 2012 It is being widely rumoured that Lord Mandelson is to announce an extra bank holiday in the UK in 2012 to mark the Queen's diamond jubilee. Her Majesty will have her Diamond Jubilee in 2012 when the Queen will also be celebrating her 86th birthday. Barclays announces £150M in new loans available for SMEs Barclays has today released £150 million in new funding for UK SMEs through the European Investment Bank (EIB) Loan Support Scheme, which includes a 2.5% upfront cashback payment when the loan is drawn. Businesses rank Business Link a success in latest customer surveys Figures revealed today by Business Link, at an event attended leading entrepreneurs and Business Link ambassadors: Karen Darby (Call Britannia), John Bird (Big Issue), Imran Hakim (iTeddy), John Cowell (Cowell Co), and Claire Young (former Apprentice finalist) show that businesses believe they save time, increase their sales and raise profits as a direct result of using the Business Link service. Business owners sacrifice health for work Small business owners are putting work before their health, according to new research published today. The figures reveal that one in four (26%) small business chiefs have missed, cancelled or put off a health appointment in the last year due to work commitments. Small businesses get help in pre-budget report The chancellor is providing more help to small businesses by extending the availability of the enterprise finance guarantee scheme by six months to September 2010. Under the terms of the scheme, introduced in March, the government offers to guarantee 75% of loans to small firms with turnover of £25m or less. Staff say they “deserve” Christmas parties after the last 12 months Employees around the country really want to let loose this holiday season following the economic difficulties of the last 18 months – but nearly one in three won’t have the opportunity, as many smaller businesses plan to forgo the annual Christmas party this year. Pre-Budget Report: Darling could drive out UK business Business groups including the British Chambers of Commerce (BCC) have sounded a warning amid mounting expectations that Alistair Darling is contemplating a new 60pc to 70pc tax rate for those earning more than £500,000, as well as a windfall tax on banking bonuses. SMEs lose nearly £1.2BN by not reclaiming VAT each year UK VAT-registered SMEs are missing out on 1/4 of potential VAT reclaims due to sloppy expense practices, according to new research. Professor Stephen Roper, Centre for Small and Medium Sized Enterprises, Warwick Business School, estimates that this equates to £1.18bn in lost fuel VAT reclaim potential.





