VAT

The VAT issues you need to consider when running your business.

VAT - a summary

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.

VAT - annual accounting scheme

The annual accounting scheme helps small businesses by allowing them to submit only one VAT return annually rather than the normal four.

VAT - bad debt relief

This factsheet explains the situations where the VAT bad debt relief applies.

VAT - cash accounting

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.

VAT - flat rate scheme

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 the VAT Flat Rate Scheme works.

VAT - Making Tax Digital

An overview of the Making Tax Digital for VAT regulations.

VAT - seven key points for the smaller business

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.

The latest news

07 Apr 2025

Minimum wage rose on 1 April

Increases to the National Living Wage and National Minimum Wage took effect from 1 April.

07 Apr 2025

No further tax increases in Spring Statement

Chancellor Rachel Reeves announced 'no further tax increases' in the 2025 Spring Statement.

07 Apr 2025

Finance Act 2025 receives Royal Assent

The first Finance Act of the Labour government has gained Royal Assent and passed into law.

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VAT

The latest news

Minimum wage rose on 1 April

No further tax increases in Spring Statement

Finance Act 2025 receives Royal Assent