VAT flat rate scheme tool
HMRC offers a simplified scheme for small businesses to work out and account for VAT. This can offer a financial and administrative advantage.
Related Topics
-
CT61
-
Repayment thresholds for student finance confirmed
Repaying student finance can seem complicated, with a number of different plan types each having different repayment thresholds. The thresholds for the forthcoming year have just been confirmed. What’s the full story?
-
Advance assurance pilot confirmed
There have been a number of changes to how research and development tax credits are claimed in recent years. HMRC has now confirmed that a pilot of a new clearance procedure will begin later this year. What do we know so far?
Benefits of the tool
The VAT Flat Rate Scheme Tool calculates the VAT payable using the scheme and the standard method and produces a report showing which is most financially beneficial. With one click it will modify the calculation to account for the VAT discounted rate that applies in the first year of registration.
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.