VAT

The Chancellor is facing mounting pressure from business groups and labour MPs to cut taxes in the upcoming Budget in order to stimulate economic growth and boost business.
HMRC has confirmed that from 1 April 2012, all VAT-registered businesses will have to send their VAT returns online and pay their VAT electronically.
HMRC has issued a final call for those taking part in the VAT Initiative to register for VAT by 31 December.
The number of checks carried out on the adequacy of small and medium sized enterprises' business records is set to increase.
Politicians must stop 'playing politics' and work together to come up with a credible plan for growth, the Federation of Small Businesses (FSB) has warned.

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