VAT cash accounting - let's keep it simple

Cash accounting enables a business to account for and pay VAT on the basis of cash received and paid rather than on the basis of invoices issued and received.
Feargal McCormack
QUESTION: I own and operate a small business and my annual turnover is around £1 million. Some of my customers take a long time to pay me and I have paid the output VAT to HMRC perhaps two or three mo[...]

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