Business News

Corporation Tax ‘Vodcast’ Offers Expert Advice

HM Revenue & Customs (HMRC) has teamed up with accountancy experts to provide online advice on changes to corporation tax due in April 2011.

From 1 April 2011 onwards, all companies and organisations will have to file company tax returns online for any accounting period ending after 31 March 2010.

From the same date, they will have to pay any corporation tax and related payments due electronically, for example by direct debit.

Under the changes, all corporation tax returns and supporting documents, including accounts, will also have to be filed online using Inline eXtensible Business Reporting Language (iXBRL).

Now HMRC and the Association of Chartered Certified Accountants (ACCA) have produced a video podcast, or vodcast, providing guidance on the changes, including the preparations businesses should be putting in place and the penalty regime.

The podcast, which can also be downloaded as a transcript, is available on the ACCA website at click here to download

LINK: Switching from paper to online returns guidance