Factsheets

VAT

The VAT issues you need to consider when running your business.

VAT - a summary

An overview of how VAT works, when a business needs to register, and the broad obligations that come with being VAT registered.

VAT - annual accounting scheme

How the annual accounting scheme lets eligible businesses file one VAT return a year instead of quarterly, smoothing cash flow through instalments.

VAT - bad debt relief

How a VAT-registered business can reclaim the VAT already paid over to HMRC on invoices that a customer never actually pays.

VAT - cash accounting

How the cash accounting scheme lets eligible businesses account for VAT when payment is actually received or made, rather than on invoice dates.

VAT - flat rate scheme

How the flat rate scheme simplifies VAT for smaller businesses by applying a single fixed percentage to turnover instead of tracking VAT on every purchase.

VAT - Making Tax Digital

What Making Tax Digital for VAT requires — digital record-keeping and return filing through compatible software rather than manual submission.

VAT - seven key points for the smaller business

The practical VAT basics smaller businesses most often get caught out by, from registration timing to record-keeping and scheme choice.

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