The VAT cash accounting scheme enables a business’s to calculate their liability on the basis of payments sent and received rather than on the basis of invoices sent and received.
If your estimated turnover during the following tax year does not exceed £1.35m, you can join the scheme. Businesses can remain within the scheme until their turnover reaches the £1.6m mark.
Website : www.dnsassociates.co.uk/blog/hmrc-vat-cash-accounting-sch…
Posted by dnsacc on 2017-07-05 13:16:26
Tagged: , VAT Cash Schemes