VAT cash accounting scheme
Tue, 20 Jul 2010 16:30:00
|
If you sell more on credit than you buy on credit, we should look at the VAT Cash Accounting Scheme. Normally you pay VAT on your sales according to when you invoice but using this scheme defers the payment of VAT as it is based on when the customer has paid you. |
Subscribe to this feed
06 February 2012 01:40
HMRC will be sending out PAYE coding notices during the months of January, February or March. The new tax code applies from 6th April 2012 to ensure you pay the correct amount of tax. Not everyone will get a notice so don’t panic if you don’t receive
Read More
18 January 2012 10:42
Over the last few years, the buy-to-let market has grown substantially and with it, many landlords have been able to profit from the ever-increasing rental income and record low interest rates. However, landlords are often tempted to file their own tax returns to cut down on costs. The
Read More
09 January 2012 03:51
Despite being widely criticised for unfairly targeting 12,000 smaller businesses HMRChave announced that they will continue with their controversial business records checks.Whilst HMRC initially emphasised the educational aspect of their business records checksthe reality is that they are compliance checks that can result in the collection of
Read More
06 January 2012 09:24
HMRC has announced that electricians will be the next group targeted as part of its crackdown on tax evasion.The Electrician''s Tax Safe Plan will be launched in February 2012 and will offer favourable termsfor electricians to come forward and declare their unpaid tax.Following this, HM Revenue
Read More