FRS, is it cash accounting...

[Scrag Meister]

... i.e. VAT becomes due when the invoice is paid? I've always done it this way.

I have just had my accountant question my last return because I didn't include an invoice that was raised in Feb (28th = period end) but paid in March.

[Clare@InTouch]

FRS works the same as normal VAT - you can either be cash accounting or invoice accounting

[Scrag Meister]

Thanks, So I was right. phew!