Flat rate tax9/22/2023 ![]() Claiming back VAT on the Flat Rate Scheme However, you may leave out any sales that are outside the scope of VAT. You need to include any standard-rated, reduced-rated, zero-rated and exempt sales you make in your VAT return. The percentage you pay depends on what your business’s trade is, unless you’re a limited cost trader. Instead of adding up all the VAT you charge and taking away the VAT you can reclaim, you add up all your sales - including any VAT you charged to your customers - and pay a percentage of those sales to HMRC. If you use the Flat Rate Scheme, you charge VAT to your customers (‘output VAT’) and pay VAT to your suppliers when you buy goods or services from them (‘input VAT’) in the normal way.īut when it comes to preparing your VAT return and paying VAT to HMRC you do things slightly differently. ![]() What is the VAT Flat Rate Scheme and how does it work? Wonder if you'd be better off on the Flat Rate Scheme? Here's an introduction to the UK's VAT Flat Rate Scheme for small businesses. Would you be better off on the VAT Flat Rate Scheme?
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