What is the VAT Flat Rate Scheme?

By

Chris Andreou

Contents

What is the VAT Flat Rate Scheme?What is the VAT Flat Rate Scheme?

The VAT flat rate scheme is one of the various VAT schemes business owners can register for, in which a fixed rate of VAT is paid to HMRC. The scheme simplifies the VAT return process for small businesses, saving them the hassle of tracking VAT on purchases.

The VAT flat rate scheme is one of the various VAT schemes business owners can register for, in which a fixed rate of VAT is paid to HMRC. The scheme simplifies the VAT return process for small businesses, saving them the hassle of tracking VAT on purchases.

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