Useful info re VAT Online

For all those businesses who have registered for online VAT, did you know that you have a 7 day period of grace to submit your return following the due date? We heard about someone who had a minor panic when they discovered their accountant was away on holiday when their return was due and the business owner didn’t have the login details to submit a return themselves. However, on enquiring from the VAT office, they were reassurred to find out that they could have a further 7 dyas in which to make the return. Possibly a lesson to be learnt here though about making sure login details are not only available through one individual. Whilst we are all encouraged to be cognisant of security issues associated with sharing login details, as reliance on online systems increases so to does the necessity to have shared access available in the event of unexpected circumstances.