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.
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.
Related Topics
-
Homeworking: claiming input tax on subsistence expenses?
Some of your staff work remotely, but their homes aren’t suited to it. You have agreed to pay for rented office space, or for refreshments if they work from, say, a café. Can you claim input tax on these expenses?
-
Beating the landlord tax hikes
Once again, landlords will be hit by tax increases announced in the Budget, even if they are operating through a company. What are the changes, and can anything be done to mitigate them?
-
Electronic VAT return