Two VAT Schemes for smaller businesses – Cash Accounting and Flat Rate VAT
HMRC have developed a variety of VAT schemes that can save the business owner time and money and enhance cash flow. We explain two of them.
What it means for businesses to be VAT registered
As a business, you have to be VAT registered in order to charge VAT on your products and services. An annual turnover of £85,000 means you must register.