IR35 Query..VAT Return.. How do I

[Paul_Courtier]

Flat Rate VAT

Introduction The Flat Rate VAT scheme allows participating businesses to simplify their VAT accounting by only paying a reduced rate of VAT on their total sales without reclaiming VAT on purchases. On the flat rate scheme you simply total up your VAT inclusive sales for a given period and then derive the VAT payable to HMRC using a reduced rate dependent on the activities the business is engaged in. The basics The basic criteria for the flat rate scheme is as follows: participating busin…

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Wouldn’t worry about mtd, frs is the last thing on hmrcs mind atm