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Combining the VAT Flat Rate and Annual Accounting Schemes

HMRC offers a number of VAT schemes for small businesses aimed to help simplify reporting and aid cashflow management.  Two such schemes are the...

5 Reasons to Use the VAT Flat Rate Scheme

The VAT Flat Rate Scheme can be a really smart decision to make if you are self employed, starting a new business or work...

VAT Flat Rate Scheme Example

There are a lot of rules and regulations surrounding VAT and the flat rate scheme is no exception.  Here is an example of the...

Moving from the VAT Flat Rate Scheme to the Standard Scheme

Moving from the VAT Flat Rate Scheme to the Standard Scheme may be voluntary or compulsory, if you have exceeded the set Flat Rate...

VAT Flat Rate Scheme Calculator (Excel)

Try My VAT Flat Rate Scheme Calculator Knowing whether you should or should join the VAT Flat Rate Scheme can be a tricky decision to...

Flat Rate VAT Scheme: Are You Entitled to the 1% Rate...

The VAT Flat Rate Scheme was introduced by HMRC many years ago in a bid to simplify the VAT reporting system for certain smaller...

VAT Flat Rate Scheme: Record Keeping & Bookkeeping

As with any VAT scheme, you must keep records and details of all returns you have submitted and your workings.  When it comes to...

VAT Flat Rate Scheme: How to Pay Your VAT

Once you have submitted your VAT return, you must get your payment over to HMRC.  HMRC sets out a number of ways you can...

VAT Flat Rate Scheme: Filling Out Your VAT Return

If you operate under the VAT Flat Rate Scheme you must fill out the same VAT return as everyone else, as there is only...

VAT Flat Rate Scheme: Capital Assets Over £2,000

Under the rules of the VAT Flat Rate Scheme you don't claim for the VAT you pay on your day to day purchases.  However,...