Customer bad debts -HMRC VAT Return Advice when the invoice is submitted, not when the payment is made, which might cause evident cash flow problems. If a customer defaults on a payment and you have already paid HMRC the output VAT. For smaller businesses, this difficulty can be overcome by employing an alternative and typically beneficial cash accounting basis scheme, in which vat returns only contain monies received. For further detail have a look at the website.https://www.tpcguk.com
