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Thread: Vat - Flat rate scheme

  1. #1
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    Hi,

    Has anyone joined the flat rate scheme for paying VAT?

    If so which sector do we belong to as affiliates?

    I have found the following from http://www.hmce.gov.uk/ and am confused:

    Advertising consultants, Advertising services such as billposting, Advertising space providers - VAT Flat Rate 9.5%

    Computer and IT consultancy or data processing - VAT Flat Rate 13%

    Not listed elsewhere, business services - VAT Flat Rate 11%

    Regards

  2. #2
    renegade's Avatar
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    I recently applied and have just been approved.
    I asked them which catagory I belonged to since I could not fit my activities into one of theirs and they've accepted me on the
    "Not listed elsewhere, business services - VAT Flat Rate 11%" tarriff you mentioned. I calculated my average VAT for previous year at around 12% so I'm happy with that and with less admin to look forward to it's a result - so long as I don't exceed the turnover limit.

    I would send them an email and ask the same question and hopefully you'll get the same answer but best to ask and describe your business activities rather than assume 11% and run into trouble later.

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    Thanks Joe,

    I think the best route would be to ask them.

    The scheme does look intresting at 11% plus the time we can save.

    I will let all know when i have applied and been accepted.

    Regards



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