Advent Day 19 – Cash Accounting VAT Scheme Threshold

The Cash Accounting VAT Scheme is a valuable tool for many small businesses, allowing them to pay VAT only when they have received payment from their customers.

As of today, the threshold for joining this scheme is £1.35 million in annual turnover.

This means that businesses with a turnover of up to this amount can take advantage of this cash flow-friendly scheme.

It’s worth noting that once your turnover exceeds £1.6 million, you’ll need to leave the scheme.

Stay informed and make the best decisions for your business’s financial health.

Remember, knowledge is power!

#BusinessTips#CashAccounting#VATScheme#Day19