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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
If you’re thinking of joining the flat rate scheme (FRS), you’ll need to be sure it doesn’t cost you any more than normal VAT accounting would. As backdating any application to leave will be
difficult, what should you watch out for?
Published 28.08.2012
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
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
A quirk of the flat rate scheme is that you can claim a VAT windfall on bad debts, even if you only account for output tax when you receive payment from your customers. How does this windfall work in
practice?
Published 01.03.2019
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
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
If your business is operating on the flat rate scheme and it purchases a capital item, then you know you can claim back the VAT. But to take full advantage, what counts as a capital purchase?
Published 29.04.2015
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