Key domestic legislation: VAT Regulations 1995 (SI 1995/2518), Part VIII
Businesses registered for VAT in the UK must, in most cases, account for VAT according to invoice dates rather than payment dates.
However, businesses with turnover of £1.35 million or less can opt for the cash accounting scheme and account for VAT according to payment dates. In this case
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 15:53