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A subscriber recently had a visit from the VATman and was pleased to hear that he could claim back more VAT on the flat rate scheme than he thought. But is this correct?
Published 31.10.2012
You have always calculated the VAT you owe with the flat rate scheme by adding the total credits in your bank statements for the return period, applying your flat rate percentage to this figure. Why
might this method lead to errors?
Published 02.04.2021
The Taxman extols the virtues of the time and admin savings you can make by using his flat rate scheme (FRS), but he’s keen to play down some of the VAT savings it offers. What are these and when can
you take advantage of them?
Published 02.07.2012
Your business has two sources of income which come within different flat rate scheme (FRS) categories. Can joining the scheme potentially reduce your VAT payments to HMRC in this situation?
Published 03.11.2021
Your business uses the flat rate scheme and you buy and sell goods and services from EU customers and suppliers. How will your VAT calculations change now that we have officially left the EU?
Published 22.12.2020
If your business is small you might consider using the flat rate scheme (FRS) to simplify VAT administration. How can combining it with cash accounting mean extra savings? And are there circumstances
when you should avoid it?
Published 22.12.2017
The flat rate scheme is supposed to simplify accounting but there are a number of pitfalls that you need to look out for and some little known rules that you could take advantage of. What’s the
story?
Published 10.01.2014
The flat rate scheme simplifies VAT reporting and reduces your administrative burden. It can also save you money. How could changes announced in the Autumn Statement 2016 affect this?
Published 16.12.2016
The flat rate scheme (FRS) is becoming increasingly popular with small businesses. If you’re considering joining, what should you look out for to ensure maximum benefit? What is the FRS?
Published 03.10.2011
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