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HMRC internal manual

Compliance Handbook

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 PE4800
DIY Builders 719 V1-8A
Gold scheme 701/21 VGOLD1000
Partial exemption 706 PE1000
Tour Operators Margin scheme (TOMS) 709/5 V1-23

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 V1-23
Annual Accounting scheme 732 V1-23
Cash Accounting 731 V1-23
Flat Rate scheme 733 V1-23
Margin schemes (Antiques, second-hand cars etc) 718 V1-23
Opting to tax land and buildings 742A V1-8
Registration by divisions for VAT 700/2 V1-28 pt2 sec 71ff
Registration in VAT groups 700/2 V1-28 pt2 sec 54ff
Retail schemes 727 V1-23
Sailaway Boats scheme 703/3 VSWB manual