Important News For 2012
From April 2012, H M Revenue & Customs are implementing the following statutory changes: -
1. Personal Allowance for 2012/13 is to be increased to £8,105, (£10,500 for those aged between 65 and 74 and £10,660 for those aged over 74).
2. From 1st April 2012 level of gross sales for Vat registration is £77,000 and to qualify for Vat de-registration, gross annual sales must be £75,000.
3. From 1st April 2012 all Vat registered businesses must submit their Vat Returns online and pay sums due electronically.