VAT Bungay : van Dijk Accountants

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.

A modern forward thinking accountancy practice.

We provide a cost-effective, high value solution to meet all of your financial needs.

About us

Cloud accounting services

Manage your invoicing, bookkeeping and more online.

Portal logins

We've helped many of our clients grow and develop their business

Supplying a comprehensive range of financial and business support services.

Our services

FREE no obligation consultation

Contact the team now to discuss your needs.

Accessibility links

VAT

Interested in our accountancy services?

Latest Business News

Chancellor must use Autumn Statement to cement commitment to small firms

Inflation rate holds steady as UK economy grows