Usually, VAT-registered businesses submit their VAT Returns and payments to HM Revenue and Customs 4 times a year.
With the Annual Accounting Scheme you:
make advance VAT payments towards your VAT bill - based on your last return (or estimated if you are new to VAT)
submit 1 VAT Return a year
From 1 April 2019, most businesses will need to keep digital VAT records and use software to submit VAT Returns (external link).
When you submit your VAT Return you either:
make a final payment - the difference between your advance payments and actual VAT bill
apply for a refund - if you have overpaid your VAT bill
The scheme would not suit your business if you regularly reclaim VAT because you will only be able to get 1 refund a year (when you submit the VAT Return).
You can join the scheme if your estimated VAT taxable turnover is £1.35 million or less.
Talk to an accountant or tax adviser (external link) if you want advice on whether the Annual Accounting Scheme is right for you.