Email: enquiries@trtaxadvisers.com Call: 020 8058 3532
VAT is accounted for when invoices are issued or received.
All VAT registered businesses.
VAT is accounted for when payments are made and received.
Your business needs to be VAT registered and expected taxable turnover for the next 12 months must be £1.35m or less.
Once your annual taxable turnover exceeds £1.6m you must leave the scheme.
VAT payments are spread evenly over the year rather than paid quarterly.
Your business needs to be VAT registered and expected taxable turnover for the next 12 months must be £1.35m or less.
Once your annual taxable turnover exceeds £1.6m you must leave the scheme.
VAT is paid on sales at a fixed industry percentage.
Your business needs to be VAT registered and your expected taxable turnover for the next 12 months must be £150,000 or less (excluding VAT).
VAT is a crucial part of business and can have a significant cash flow impact in the Tech sector.
To simplify the process of calculating and paying VAT, there are several VAT schemes available - primarily introduced to support small businesses. Here’s an overview of the various schemes available to Tech businesses. We have additional resources available that give more detail on each scheme.
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