The VAT issues you need to consider when running your business.
Concise information on the VAT issues you need to consider when running your business. Click on the links below to access the relevant information.
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. This factsheet highlights some of the areas that you need to consider when running your business. We highlight the key VAT areas you need to consider when running your business. … read more VAT – a summary
The annual accounting scheme helps small businesses by allowing them to submit only one VAT return annually rather than the normal four. The annual accounting scheme helps small businesses by allowing them to submit only one VAT return annually rather than the normal four. The scheme is intended to help with budgeting and cash flow and … read more VAT – annual accounting scheme
This factsheet explains the situations where the VAT bad debt relief applies. VAT Bad debt relief allows businesses that have made supplies on which they have accounted for and paid VAT but for which they have not received payment to claim a refund of the VAT. We explain the situations where the relief applies. If … read more VAT – Bad Debt Relief
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. The factsheet explains the workings of cash accounting. We summarise the workings of cash accounting for VAT. If you are starting or have recently started a … read more VAT – Cash Accounting
The VAT flat rate scheme for small businesses potentially reduces the administrative burden imposed when operating VAT. Under the scheme, a set percentage is applied to the turnover of the business as a one-off calculation instead of having to identify and record the VAT on each sale and purchase you make. This factsheet explains how … read more VAT – flat rate scheme
An overview of the Making Tax Digital for VAT regulations. Making Tax Digital for VAT (MTDfV) fundamentally changes the way in which businesses keep VAT records and submit VAT returns. At SKZ Chartered Certified Accountants, we can provide guidance on the key aspects of MTDfV and the implications for your business in the Essex area. … read more VAT – Making Tax Digital
This factsheet focuses on VAT matters of relevance to the smaller business. A primary aim is to highlight common risk areas as a better understanding can contribute to a reduction of errors and help to minimise penalties. Seven key VAT areas to consider for the smaller business. If you are starting or have recently started … read more VAT – seven key points for the smaller Business