What flat rate VAT percentage do I apply for multiple business sectors?

Chris Andreou

September 3, 2021

What flat rate VAT percentage do I apply for multiple business sectors? guide

Get Free Advice from an Accountant

Book a free 30 minute call with an accountant. We'll help walk through setting up your business, switching accountant or any of your tax queries. All our accounting packages come with a free 30 day trial.

No items found.
Download Now ↓
Tax

If your business can be classified under more than one sector because you provide different types of services or products, you’ll then use the percentage that applies to the majority of your services or sales, and apply that to your total sales.

Let’s say you’re running a hair salon-cum-restaurant business. If 70% of your sales is derived from providing hair and beauty treatments, you’ll then apply a VAT flat rate of 13% (for hairdressing and beauty treatment services) to your total turnover.

Download our Ultimate Expenses Guide

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
No items found.
No items found.

Download our Ultimate Expenses Guide

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
No items found.
No items found.
No items found.

Get Free Advice from an Accountant

Book a free 30 minute call with an accountant. We'll help walk through setting up your business, switching accountant or any of your tax queries. All our accounting packages come with a free 30 day trial.

Featured Article

Read more
No items found.