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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.



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