The VAT flat rate scheme and limited cost tradersWho can join the VAT flat rate scheme, when a business must leave, the 16.5% limited cost trader rate and the 2% and £1,000 test.VAT registration and deregistration thresholdsThe £90,000 VAT registration threshold, the past 12 months and next 30 days tests, effective dates, the £88,000 deregistration threshold and exceptions.The VAT cash accounting schemeWho can use VAT cash accounting, the £1.35 million joining and £1.6 million leaving limits, excluded transactions and what to do with VAT on leaving.The VAT annual accounting schemeHow the VAT annual accounting scheme works: the £1.35 million and £1.6 million limits, 9 monthly or 3 quarterly payments, and the 2-month return.VAT partial exemption and the de minimis testsHow partly exempt businesses recover VAT: the standard method, rounding, the £625 a month de minimis limit, simplified tests and the annual adjustment.The VAT domestic reverse charge for construction servicesWhen the construction VAT reverse charge applies, end user and intermediary notices, the 5% disregard, invoice wording and how each side fills in the return.Postponed import VAT accountingHow postponed VAT accounting works for imports: who can use it, the import declaration, monthly statements from CDS and boxes 1, 4 and 7 of the return.VAT on goods between Great Britain, Northern Ireland and the EUVAT on goods under the Windsor Framework: XI VAT numbers, GB to NI sales and movements, NI to EU dispatches and acquisitions, and NI distance sales.VAT late submission penalties, late payment penalties and interestVAT penalty points by return frequency, the £200 penalty, late payment penalties at day 15 and day 30, the 10% second penalty and late payment interest.Making Tax Digital for VAT rulesMaking Tax Digital for VAT: who it covers since April 2022, the digital records to keep, what counts as a digital link, bridging software and exemptions.VAT return boxes 1 to 9 explainedWhat goes in each of the nine VAT return boxes, with how postponed import VAT, the reverse charge and Northern Ireland and EU goods affect them.Correcting VAT errors on earlier returnsHow to correct VAT errors: the £10,000 or 1% of box 6 threshold up to £50,000, the online disclosure, the 4-year limit and deliberate errors.
VAT
When a business must register for VAT, the cash, annual and flat rate schemes, partial exemption, the construction reverse charge, postponed import VAT, goods moving to and from Northern Ireland, penalties, Making Tax Digital for VAT and each box on the VAT return.