- VAT account
- A summary of the totals of output tax, input tax and net tax due for each VAT period. HM Customs & Revenue Glossary
Financial and business terms. 2012.
VAT account
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payment on account scheme — The largest VAT payers are required to be in the Payments on Account Scheme. Under the scheme interim payments must be made. HM Customs & Revenue Glossary … Financial and business terms
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value added tax — VAT A charge on taxable supplies of goods and services made in the UK by a taxable person in the course or furtherance of a business. Where appropriate, each trader adds VAT to sales and must account to the Board of Customs and Excise for the… … Accounting dictionary
value added tax — VAT A charge on taxable supply of goods and services made in the UK by a taxable person in the course or furtherance of a business. Where appropriate, each trader adds VAT to sales and must account to HM Revenue and Customs for the output tax The … Big dictionary of business and management
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