VAT

Concise information on the VAT issues you need to consider when running your business. Click on the links below to access the relevant information.

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.

06 May 2025

Sole traders and landlords get Making Tax Digital warning

Sole traders and landlords with an income over £50,000 have been warned that there is less than a year before they will be required to use Making Tax Digital for Income Tax (MTD for IT).

06 May 2025

Loan charge review calls for evidence

The independent review into the loan charge has issued a call for evidence with examples of promotional material and marketing leaflets a priority for the review team.

Autumn Budget 2024

A review of measures for UK businesses and individuals.

Spring Statement 2025

Details of the Spring Statement 2025. Our summary focuses on the key issues.

Factsheets

Factsheets covering a range of relevant accountancy and business topics.

Accessibility links

VAT

Sole traders and landlords get Making Tax Digital warning

Loan charge review calls for evidence

Autumn Budget 2024

Spring Statement 2025

Factsheets