CH12400 - Record Keeping: What records must be kept: VAT: Special schemes
The following VAT schemes have particular record keeping requirements. If a person wishes to, or must, use a special scheme they must keep the records laid down for that scheme. Details are in the appropriate Notice or other guidance. You can access these from the following links.
Mandatory schemes
The person must use these schemes if the appropriate conditions are met.
| Scheme | Notice | Guidance |
|---|---|---|
| Capital Goods scheme | 706/2 | |
| DIY Builders | VCONST24000 | |
| Gold scheme | 701/21 | VGOLD1000 |
| Partial exemption | 706 | PE1000 |
| Tour Operators Margin scheme (TOMS) | 709/5 |
Optional schemes
These schemes may be used. If the person chooses not to use the scheme they must account for VAT in the normal way.
| Scheme | Notice | Guidance |
|---|---|---|
| Agricultural flat rate scheme | 700/46 | VATAFRS0270 |
| Annual Accounting scheme | 732 | VAT AAS |
| Cash Accounting | 731 | VCAS5000 |
| Flat Rate scheme | 733 | VAT FRS |
| VAT Margin Schemes | VATMARG02200 | |
| Antiques | 701/12 | |
| Second Hand Cars | 718/1 | VATMARG02200 |
| Opting to tax land and buildings | 742A | VATLP Manual |
| Registration by divisions for VAT | 700/2 | |
| Registration in VAT groups | 700/2 | |
| Retail schemes | 727 | VRS Manual |
| Sailaway Boats scheme | 703/2 | VSWB manual |