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  • Documents - Annual accounting scheme cover letter
    Annual accounting scheme cover letterIf your business completes VAT returns, you could be eligible to join the annual accounting scheme to simplify your reporting.Annual accountingThe annual accounting scheme allows for the submission of a single VAT return for the whole year, rather than the usual four. Your business makes fixed payments throughout the year, based on the previous year's liability, with any shortfall (or excess) then reconciled upon submission of the return.Aside from the simplified reporting,...
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