For example, apart from standard accounting, there is the cash accounting scheme, several different retail schemes, flat rate scheme, margin/secondhand goods scheme, annual and monthly accounting, to name a few. There’s even a special VAT scheme for gold! Some (but not all) of these options may be combined subject to HMRC rules.
It’s all to easy to make a mistake with VAT and the penalties HMRC impose for getting it wrong can be very costly.
If you’d rather not spend time worrying about VAT rules…
Got a VAT Inspection?
A visit from the VAT man does nothing for your stress-levels, even when there are no problems with your records. We can also help you to prepare for a VAT visit (inspection) and be present during the visit itself, if desired.