Standard VAT accounting Archives | Taxfile https://www.taxfile.co.uk/category/standard-vat-accounting/ Tax advice & accounting services for South London businesses & SMEs Mon, 03 Jun 2024 13:39:05 +0000 en-GB hourly 1 Making Tax Digital for VAT https://www.taxfile.co.uk/2019/03/making-tax-digital-for-vat/ Fri, 15 Mar 2019 11:56:37 +0000 https://www.taxfile.co.uk/?p=3510 From 1st of April 2019 HMRC’s VAT Notice 700/22 will come into effect; Making Tax Digital (MTD) for Value Added Tax (VAT).  The MTD initiative is believed to benefit HMRC on two levels. It will help to ensure the correct VAT is being paid to HMRC, & seeing that VAT accounts for the highest unpaid […]

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]]> VAT Accounting Schemes https://www.taxfile.co.uk/2008/09/vat-accounting-schemes/ Sat, 06 Sep 2008 08:57:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/?p=10 Using Standard VAT Accounting, we must complete four VAT returns each year. Any VAT due is payable quarterly, and any VAT refunds due are also repayable quarterly. In contrast to standard VAT accounting, there are several alternative ways we can account for VAT that could save us time and money. Each of the schemes has […]

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