VAT - Russell Payne & Co Ltd, Lincoln, UK

VAT

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(Locked) VAT

VAT registered businesses act as unpaid tax collectors and are required to account both promptly and accurately for all the tax revenue collected by them.

(Locked) VAT Annual Accounting Scheme

HM Revenue & Customs (HMRC) have introduced a number of VAT schemes over the years designed to reduce the administrative burden on small businesses. One such scheme is the annual accounting scheme.

(Locked) VAT - Cash Accounting

Cash accounting enables a business to account for and pay VAT on the basis of cash received and paid rather than on the basis of invoices issued and received.

(Locked) VAT Flat Rate Scheme

The flat rate scheme for small businesses was introduced to reduce the administrative burden imposed when operating VAT.

(Locked) VAT - Bad Debt Relief

It is quite possible within the VAT system for a business to be in the position of having to pay over VAT to HM Revenue & Customs while not having received payment from their customer.

The information in this site is of a general nature and is not a substitute for professional advice. You are recommended to obtain specific professional advice before you take any action.
Copyright © Russell Payne & Co Limited. All rights reserved.

Russell Payne & Co Limited are registered in England & Wales. Registered company number: 4705761.
Registered office address: Landmark House, 1 Riseholme Road, Lincoln LN1 3SN.
VAT registration number: 613 5155 67.