Customs to offer £50 online discount
Legislation placed before the House of Commons today will allow Customs to make £50 incentive payments to small businesses filing VAT returns via the internet.
The one-off payments will be paid to VAT registered businesses with turnovers below £600,000 the first time they send in their VAT return via Customs’ new internet VAT return service. The service will be launched on 1 April 2001 and the incentive payments will be available for a period of one year.
Customs claims that some of the boxes on its electronic form will offer automatic calculation and that forms will be acknowledged with immediate online receipts.