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

Short explanations of the VAT concerns you should think about when running your business. To get to the essential information, click on the links below.

VAT - a summary

VAT-registered enterprises operate as unpaid tax collectors and are obligated to account for every tax income received immediately and accurately.

VAT - annual accounting scheme

Small firms benefit from the yearly accounting plan since they only have to file one VAT return per year instead of the usual four.

VAT - bad debt relief

This factsheet outlines when the VAT bad debt relief is applicable.

VAT - cash accounting

Cash accounting allows a company to account for and pay VAT based on cash receipts and payments rather than invoices produced and received.

VAT - flat rate scheme

Small businesses may benefit from the VAT flat rate plan since it eliminates the administrative complexity associated with VAT.

VAT - seven key points for the smaller business

This brief focuses on VAT issues that affect small businesses. One of the main goals is to highlight common risk areas so that a better understanding might help to reduce errors and penalties.