VAT VAT is one of the most complicated areas of tax. We can advise you on choosing the right scheme and other key VAT issues. VAT - annual accounting scheme The annual accounting scheme helps small businesses by allowing them to submit only one VAT return annually rather than the normal four.VAT - flat rate scheme The VAT flat rate scheme for small businesses was introduced to reduce the administrative burden imposed when operating VAT. Under the scheme a set percentage is applied to the turnover of the business as a one-off calculation instead of having to identify and record the VAT on each sale and purchase you make. This factsheet explains how the VAT Flat Rate Scheme works.VAT - seven key points for the smaller business This factsheet focuses on VAT matters of relevance to the smaller business. A primary aim is to highlight common risk areas as a better understanding can contribute to a reduction of errors and help to minimise penalties.VAT - a summary A general overview of the principles of VAT.VAT - cash accounting A guide to the cash accounting scheme.VAT - bad debt relief The conditions and requirements of claiming VAT relief on bad debts.VAT - how to survive the enforcement powers Making sure you comply with the rules.Recovering VAT on staff expenses How to reclaim VAT on supplies made to your employees.