VAT Scheme
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VAT Scheme

What is the Annual Accounting VAT Scheme?

The Annual Accounting scheme enables VAT registered businesses to submit their VAT returns annually, rather than quarterly. The main features of the scheme are: Available for traders with an annual…

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VAT Scheme

What is the Flat Rate VAT Scheme?

The flat rate scheme is designed for small businesses with annual taxable turnover that doesn’t exceed £150,000 and whose annual total turnover (including income on which no VAT is paid)…

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VAT Scheme

What is the cash accounting VAT scheme?

Many VAT registered business owners use the standard Accrual Accounting Scheme for their Quarterly VAT Returns. However, they may not be aware that there are alternative VAT schemes that have been…

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