The VAT flat rate scheme simplifies and speeds up VAT return completion for small businesses. Instead of calculating the VAT payable to HMRC as the
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The main benefit VAT Cash Accounting Scheme is that you don’t have to pay VAT on invoices you have issued until your customers pay you. Although it also means you can’t reclaim VAT on purchases until you pay your suppliers. You get instant bad debt relief since no sales tax is due if no payment is made.
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