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What is VAT Annual Accounting Scheme?
Pay VAT when Customers pay
Reclaim VAT when you pay suppliers
Good for Cashflow
4.8 Star Reviews
Annual VAT
How does VAT annual accounting works? for VAT
For businesses with a turnover of up to £1.35 million, the Annual Accounting Scheme offers a simplified approach.
Rather than submitting quarterly VAT returns, you only need to file one annual return.
You make interim payments throughout the year based on an estimated VAT liability, and then reconcile the difference in the annual return.
Eligibility
Who can use Annual Accounting?
This scheme cannot be used:
- If you left the scheme in last 12 months.
- The company in within VAT group
- Company has no way of paying it’s liabilities and is insolvent.
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We are Experienced Accountants providing accounting, tax, payroll, VAT services for over a 15 Years.
We have worked with many software & cloud platforms are we are best placed to advice and integrate system that works for you and you can afford.
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For Accounts production – VAT – Tax Returns – Tax Advisory
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