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Where the debts of a business are collected by an agent, VAT must be accounted for in the period in which the agent receives the payment. VAT is due on the full amount received by the agent from...
If a customer fails to pay your invoice you can, after six months, claim a refund of the corresponding VAT you accounted for to HMRC. But if you use the flat rate scheme a further adjustment...
The cash accounting scheme is open to small businesses, but when your turnover increases you may need to leave. This can lead to some tricky VAT and accounting issues. What are they and how should you...