Should I apply for the Flat Rate VAT Scheme?

What is the Flat Rate VAT Scheme?

Standard quarterly VAT bills are calculated by offsetting the VAT spend on your purchases against the VAT income from your sale with the difference going to HMRC.  However, on the Flat rate scheme a fixed % of your total VAT-inclusive turnover goes to HMRC.

The flat rate scheme is usually beneficial for companies that do not make many large purchases subjected to VAT.  In the majority of cases a business will be much better off on the flat rate scheme so we do recommend applying.

Click here for details of the different percentages that can be used in the scheme. 

Please note: The VAT Flat Rate Scheme might not be right for your business if you make zero-rated or exempt sales, please contact us if you think this may effect you. 

How to apply for the flat rate scheme

If you feel that the Flat Rate VAT Scheme is suitable for your business please contact us so that we can send you an application.

Then what next?

Please let us know when you hear back from HMRC as the confirmation letter will go to your business address not ours.