Tag Archives: flat rate vat

Flat Rate VAT Scheme: Bad debt relief

I have made a very surprising discovery about the flat rate scheme. A VAT registered business has the choice between Accounting for VAT on the basis of sales invoices raised in a quarter, minus purchase invoices received from their suppliers … Continue reading

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Flat Rate VAT Scheme

HMRC have devised a scheme to make it cheaper and quicker for smaller businesses to calculate their VAT liability. It’s called the flat rate scheme. Normally a VAT registered business deducts theirĀ  input tax ( VAT paid to their suppliers) … Continue reading

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