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The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> which VAT scheme??
Post Info TOPIC: which VAT scheme??
Worpet


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which VAT scheme??
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hi im currently working for a company that is on the Standard VAT scheme, but I think it maybe better for them to go on the Cash Accounting Scheme as they send out large invoices and or cause are sojmetimes having to pay large VAT bills before being paid from their customers.

 

They are within the 1.35 m threshold so not sure how to convince them to move over???



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RobH


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Well you are right that it gives them a cash flow advantage and also if they suffer any bad debts they won't have paid the VAT over so much easier than claiming the VAT back. It can be a bit messy changing from one scheme to another I guess but nothing too onerous.

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Rob
www.accounts-solutions.com
Worpet


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thanks so much......I can tell your going to be my guru!!!!!


Thanks RobH

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