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    Value added tax - Routine VAT - Cash accounting scheme - Special situations - Outsourcing debt collection - 81615

    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...

    VAT flat rate scheme users missing out on bad debt relief

    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...

    Pros and cons of the cash accounting scheme

    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...