SEPTEMBER 2024 | VAT UPDATES MUST NOW BE DONE ONLINE

Branagans Accountancy Services would like to remind all UK businesses that any updates to VAT details must now be submitted online through the VAT online account system. This change, effective as of August 5, marks the end of the traditional VAT484 form and the use of postal or electronic methods for updates.

Donna Branagan, Director at Branagans Accountancy Services comments: “According to HMRC, the online process is designed to enhance security and streamline operations, reducing delays in updating crucial business information. However, for individuals who are digitally excluded, HMRC will continue to accept changes via the VAT484 form submitted by post.

“However, if you are based overseas and need to update your VAT information, you will need to contact HMRC directly by phone. The VAT484 form remains in use for overseas businesses and can be utilised for updates such as changing business names or phone numbers.”

Businesses that change their name or address must also ensure their records with Companies House are updated. Any changes to bank details should be communicated to HMRC as soon as possible to prevent disruptions.

Donna continues: “Staying compliant with HMRC requirements is vital to keeping your business running smoothly. With the transition to online updates, businesses will need to adapt quickly. At Branagans, we’re here to assist clients through these changes, ensuring that their details are up to date and accurate with HMRC and Companies House.”

For assistance in making VAT updates or any other changes to your business details, please contact Branagans Accountancy Services at 01709 327 215 or via email at [email protected]