Cash accounting scheme

(SI 1995/2518, reg. 56–65; Notice 731; HMRC ‘VAT – Cash accounting scheme ’ manual)

(In-Depth: ¶55-700)

Period of application

Joining threshold (next 12 months supplies)(1)

£

Leaving threshold (last 12 months supplies)

£

From 1/4/07

1,350,000

1,600,000

1/4/04–31/3/07

660,000

825,000

1/4/01–31/3/04

600,000

750,000

1/4/93–31/3/01

350,000

437,500

1/10/90–31/3/93

300,000

Notes

(1)Includes zero-rated supplies, but excludes any capital assets previously used in the business. Exempt supplies are also excluded.

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