VAT annual accounting

The turnover threshold at which companies can qualify for the VAT annual accounting scheme will be increased to £1,350,000 from April 2006. The government will also raise the Cash Accounting Scheme turnover threshold to the same level, subject to the agreement of the European Commission.

Contents
	Summary

	Tax allowances and NICs

	Pension simplification

	Tax credits

	Residence and domicile

	Corporation tax

	First year allowances

	Work in progress - the impact of accounting standards

	VAT annual accounting

	Real Estate Investment Trusts (REITs)

	Film taxation

	Tax avoidance measures

	Tables

	Links

The Acumen Investment Partnership is authorised and regulated by the Financial Services Authority.

This guide is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking action on the basis of the contents of this publication. The guide represents our understanding of the law and HM Revenue & Customs practice as at December 2005, which are subject to change.

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