£5,000 limit

Accounting system, required changes

Adjustment of output tax

Adjustments to VAT account where supply becomes or ceases to be a supply



Power to amend law

Cash accounting scheme


Contra-trading fraud considered

Corresponding supply

Effective date: 1 June 2007


Excepted supply

Flat-rate scheme

General provision


Goods subject to

Interaction with

Annual accounting scheme

Cash accounting scheme

Flat-rate scheme for small firms

Margin scheme


Local authorities

Payments on account scheme unaffected by

Penalties initially applied with light touch

Recipient of supply accounting for VAT

Registration number, checking

Registration threshold

Return entries

Reverse charge sales lists

Sales statements

Second-hand margin scheme

Services subject to reverse charge

Tax debit note

Unpaid supplies: adjustment of reverse charge

Value of supply