Annual accounting scheme (AAS) ― overview

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides an overview of the annual accounting scheme (AAS).

See also De Voil Indirect Tax Service V2.199A.

What is the annual accounting scheme?

The annual accounting scheme (AAS) is a special VAT scheme that enables qualifying businesses to submit one VAT return each year.

It is aimed at businesses who may struggle with the administrative burden of submitting the usual quarterly VAT returns. However, businesses using the scheme still need to make payments of VAT due throughout the year. This is done via nine monthly or three quarterly instalments during the tax year. The payments must be made by either direct debit, standing order or another form of electronic payment. At the end of the tax year, the business

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