Cookstown & Belfast | Accounts Production, Audit, Business Plans, Tax Advice & Planning

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028 8676 1666
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The Chartered Instiute of TaxationSage Accountant Partner

VAT

Tax Tips and FAQs - below you will find a list of all our Tips and FAQs - click to see the full text and/or answer. You can also select specific sections to filter the information by using the menu options.

Cash Accounting for VAT
Flat Rate Vat Scheme
Annual Accounting
Tax Tip & FAQ Home

Cash Accounting for VAT

If your business’s turnover is less than £1.3 millions you can account for VAT on a cash received basis, providing certain conditions are met. 


Flat Rate Vat Scheme

This scheme is available to businesses whose turnover is less than £150,000 and allows then to account for VAT as a percentage of your VAT inclusive turnover.  The percentage used includes a compensation element for any input VAT which you might loose out on. 


Annual Accounting

Reduce paperwork and manage your cash flow more easily by submitting one VAT Return a year and making regular monthly payments. 


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