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
-
Electronic VAT return
-
Government announces significant climbdown on IHT reforms
The introduction of a £1 million cap on 100% business and agricultural property relief from April 2026 has been criticised particularly heavily by the farming industry. The government has announced a significant watering down of the measure. What’s happening?
-
Corporation tax due