VAT flat rate scheme - another quick question

[mollie]

If i use the cash based turnover method am i right in thinking i submit my vat return every quarter on vat money received not on issued invoices??.

 

[David Griffiths]

Yes, the cash basis is calculated on money received and paid, not on invoices.

It's separate from the flat rate scheme, and can be used on normal VAT calculations as well.

 

[mollie]

can i use it on the flat rate scheme?

 

[CassioAcc]

can i use it on the flat rate scheme?

For the flat rate scheme you would choose to apply it to supplies you have been paid.

 

[elaine@cheapaccounting]

can i use it on the flat rate scheme?

yes cash accounting can be use with flat rate.