Hi,
You are requesting advice on whether records and accounts kept for the global accounting scheme are the same as the margin scheme.
As you have identified per Guidance (Using the global accounting VAT margin scheme) you must keep records:
• of purchase and sales (link to selling section), together with how you’ve worked out the VAT due
• which are up to date and clearly distinguishable from any other records
• for 6 years
Please refer to VAT Notice 700/21 section 2 refers to the record keeping rules for all VAT registered businesses.
To conclude the records/accounts/invoices the company would need to keep are not the same as a normal margin scheme, however as long as you adhere to the record keeping rules for all VAT registered businesses, this will suffice for the Global Accounting Scheme.
More details can be found in the following guidance. Record keeping
VAT Notice 700/21
Thank you.