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How do I set the rate for the Flat Rate scheme?

I am on the flat rate and tryiing to complete my first VAT return - how do I complete the return if I cannot show the rate I am paying? I have tried to input the sales figures but the VAT on the sales invoices is either 20% or 5% so when these figures import into the VAT return I am either paying too much or not enough?

Hi @Sandra,

There is an option in the VAT settings for if you are on the flat rate scheme. You will be able to set the rate here aswell.

Just to add to @QFBeth’s post above, the rate on the sales invoice will remain at 20%, it’s just on the return that that flat rate percentage is taken into account.

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