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VAT Global Accounting Scheme

VAT Second Margin Scheme v. Global Accounting Scheme

The Second Hand Margin Scheme and Global Accounting Scheme are similar in principle, with the Global scheme being a simplified version of...

Global Accounting for Purchases over £500

Individual items that you have purchased for over £500 each cannot be included in the global accounting scheme (but you can use the VAT margin...

VAT Global Accounting Scheme: Calculating Your Margin

Under the VAT Global Accounting Scheme you pay VAT at 1/6th of the difference between the number of items you sell in...

VAT Global Accounting Scheme: Record-Keeping & Invoicing

If you have chosen to use the VAT Global Accounting Scheme then you need to make yourself aware of the VAT records...

Overview of the VAT Global Accounting Scheme

The VAT Global Accounting Scheme is only available to certain types of businesses who sell: second-hand goodsworks of artantiques,...