Accounting schemes to simplify your VAT

VAT accounting schemes: the basics VAT accounting schemes may help simplify your VAT accounting and smooth your cashflow

Annual Accounting Scheme for VAT Reduce paperwork and manage your cashflow more easily by submitting one VAT Return a year and making regular monthly payments

Cash Accounting Scheme for VAT You don't need to pay VAT until your customer pays you - if your customer doesn't pay, you don't have to pay the VAT

Flat Rate Scheme for VAT Pay VAT as a flat rate percentage of your turnover and save time accounting for VAT on sales and purchases

VAT retail schemes How to keep VAT invoicing and VAT accounting to a minimum if you're a retailer

VAT margin schemes for second-hand goods, art, antiques etc Second-hand traders may be able to account for VAT on the difference between the purchase price and selling price of an item