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NEIL WARREN considers how a business can improve its VAT cash flow position and gain time to pay the tax due
KEY POINTS
- A reminder about the normal VAT tax points.
- The effect of a delayed invoice.
- Downside of the cash accounting system.
- The dangers of an estimated VAT assessment.
- Don’t forget the Business Payment Support Service.
- Mitigating a default surcharge payment.
- Could clients use the cash-based turnover method?
In recent articles I have focused on giving some VAT saving tips. The tips will not have saved you as much tax as the K2 scheme for certain entertainers but have hopefully provided some useful ideas. In this article I am going to focus on cash flow issues.
In other words what strategies can we adopt (legally) to delay paying our dues as long as possible? And what happens if our clients...
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