Section 57 — Value Added Tax Regulations 1995: Cash accounting scheme

Cash accounting scheme 57 A taxable person may, subject to this Part and to such conditions as are described in a notice published by the Commissioners, account for VAT in accordance with a scheme (hereinafter referred to in this Part as “the scheme”) by which the operative dates for VAT accounting purposes shall be—

a for output tax, the day on which payment or other consideration is received or the date of any cheque, if later;

and b for input tax, the date on which payment is made or other consideration is given, or the date of any cheque, if later.