Accounting checklist

Admission

Admission to scheme

Advantages

Agreed monthly sum, meaning

Agreed quarterly sum, meaning

Application to cut payments on account

Authorisation

Application, eligibility

Cessation

Generally

Insolvency/bankruptcy/incapacity or death

Refusal, protection of the revenue

Termination

Authorisation, cessation

Effect of

Effective date

Authorised person

Authorised person, meaning

Ceasing to use

Effect of

Voluntarily

Cessation of authorisation

Conditions for remaining in scheme

Conditions for using

Credit transfer

Generally

Meaning

Current accounting year

Meaning

Quarterly sum, meaning

Current accounting year, meaning

Disadvantages

Due date concession, interaction with

Effect of scheme

Flat-rate scheme, interaction with

Fuel scale charge

Generally

Incorrect removal

Interaction with reverse charge and carousel fraud

Length of annual accounting period

Monthly sum, meaning

Quarterly sum, meaning

Registration Unit address

Relevant monthly date, meaning

Relevant quarterly date, meaning

Retail schemes

Returns

Scheme, meaning

Seasonal small traders, deferral of VAT

Second-hand goods, value of supplies

Transfer of business as going concern

Transitional accounting period

Generally

Meaning

Transitional accounting period, meaning

Value added tax

Applications

Generally

Working day, meaning