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
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Electronic VAT return and payment due
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Employment Intermediaries quarterly return due
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Multiple tax-free perks for directors
With Christmas in mind a fellow director has suggested your company uses the trivial benefits in kind exemption to provide £300 of tax and NI-free gifts to each director. You’ve heard about the exemption but can it be used in this way?