VAT - Advantages of Annual Accounting Scheme Flashcards
1
Q
What is the first advantage of the annual accounting scheme?
A
One return helps relieve burden of admin
2
Q
What is the second advantage of the annual accounting scheme?
A
Traders have an extra month to submit return and balancing payment
3
Q
What is the third advantage of the annual accounting scheme?
A
Regular fixed payments aid budgeting
