Fact Sheets VAT VAT is one of the most complicated areas of tax. We can advise you on choosing the right scheme and other key VAT issues. Recovering VAT on staff expensesHow to reclaim VAT on supplies made to your employees.VAT - a summaryA general overview of the principles of VAT.VAT - annual accounting schemeThe annual accounting scheme helps small businesses by allowing them to submit only one VAT return annually rather than the normal four.VAT - bad debt reliefThe conditions and requirements of claiming VAT relief on bad debts.VAT - cash accountingA guide to the cash accounting scheme.VAT - flat rate schemeThe 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 the VAT Flat Rate Scheme works.VAT - how to survive the enforcement powersMaking sure you comply with the rules.VAT - seven key points for the smaller businessThis 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.
