VAT FEATURE: Saving cash flow through the VAT system. By David Miller
We all know that cash flow is the lifeblood of every business whether it is big or small but there is a whole raft of VAT measures available that can enhance cash flow. In the first of a regular series, David Miller, director of independent VAT & customs duty consultants Barnard Atkins, provides practical advice on some of these measures.
Businesses whose vatable turnover is £660K or less, (this is rising to £1.35 million from 1 April 2007) are eligible to use cash accounting.