The VAT Flat Rate Scheme was introduced more recently than the other 2 schemes and has a much lower turnover threshold for eligibility, meaning fewer businesses can use it.
Its objective is to reduce…
In this second of three brief guide looking at the 3 main VAT accounting schemes we look at how the VAT Annual Accounting scheme can assist small businesses.
The scheme was introduced at the same time as Cash Accounting and has the same turnover thresholds for…
Special VAT accounting schemes for small businesses have been available for a number of years, but they are still underused. The 3 main schemes are: cash accounting, annual accounting and the flat rate scheme.
In this, the first of three brief guides we will be looking at how the VAT…