VCAS9300 | Cash accounting scheme: Previous changes to the scheme: Changes introduced on 1 December 1993

Amendment 4 to the 1991 version of Notice 731 was issued on 1 December 1993. It announced that:

• businesses with large debts were allowed to join the scheme;

• if cash accounting had been withdrawn the businesses was allowed to return to the scheme 12 months (instead of 36 months) from the breach of rules;

• businesses who exceeded the tolerance were allowed to stay on scheme for one year after breaching tolerance (instead of having to leave on an anniversary of joining the scheme): if they fell below the £350,000 threshold during that year they could remain on the scheme;

• if deregistering, businesses were now required to account for outstanding sales and purchases made over the last 6 months (instead of 12 months).