VAT Schemes Explained

vat accounting schemes explained

HMRC have launched various different VAT schemes, which businesses can opt into if they feel it will bring benefit. Although it can make things confusing when it comes to choosing the best, they are designed to help with cash flow and reducing administration. In this guide, you’ll find some of the most common VAT accounting schemes, along with the pros and cons of each.

How to Leave the Flat Rate VAT Scheme

How to Leave the Flat Rate VAT Scheme

As businesses change and evolve they often want to leave the flat rate VAT scheme because they’ve become ineligible or there is another VAT scheme that becomes more suitable. Leaving the flat rate scheme is simple enough to do. This guide walks you through how to deregister from the flat rate scheme, when to leave and how to handle accounting for final VAT returns.

VAT Global Accounting Scheme Explained

vat global accounting scheme explained

The VAT global accounting scheme is a variant of the margin scheme made available by HMRC to help businesses in the UK. Find out how the VAT Global scheme works, which businesses are eligible to join the scheme along with the benefits of doing so.

VAT Margin Scheme for Second-Hand Goods

second hand margin scheme for VAT

The second-hand good scheme is one of the VAT accounting schemes made available by HMRC to help businesses in the UK. Find out about the rules of the VAT margin scheme, which businesses are eligible to join the scheme along with the benefits of doing so.

Combining the Flat Rate VAT & Annual Accounting

Flat Rate VAT Scheme and Annual Accounting

Combining the flat rate VAT scheme and annual accounting scheme can be advantageous both for cash flow and simplify VAT reporting. Updated 20 July 2021 1. The Advantages of Combining the VAT Flat Rate and Annual Accounting Schemes Joining both the VAT Flat Rate and Annual Accounting Scheme can be advantageous for eligible VAT registered …

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The VAT Annual Accounting Scheme Explained

VAT annual accounting scheme explained

The VAT Annual Accounting Scheme is a VAT scheme designed to reduce VAT administration and improve small business cash flow. In this guide, I’ll explain more about the annual accounting scheme, how to join and the advantages of doing so.