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Phone:  0161 264 2940

Email:
office@taxwise-accounting.co.uk

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Registered office:
Avondale Lodge
Whitehall Road
Sale, Manchester M33 3WJ


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Taxwise Accountants

Avondale Lodge
Whitehall Road, Sale
Manchester  M33 3WJ
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Taxwise Accountants Ltd | Registered in England & Wales | Registered No.:  08416929
Copyright © 2013 by Taxwise Accountants Ltd  ·  All Rights reserved  ·  E-Mail: office@taxwise-accounting.co.uk
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VAT Flat Rate Scheme Calculator
The flat rate scheme was introduced with the aim of making it easier for small businesses to manage their VAT obligations.  Normally, a VAT registered trader has to total up how much VAT has been charged to customers (output VAT), and then total up the VAT that has been paid on all business related expenditure (input VAT).  Output VAT minus input VAT is then paid to HMRC.

With the flat rate scheme, things are much simpler.  Instead of adding up the VAT on all your expenditure, you simply take the applicable 'flat rate percentage' for your business sector [listed HERE] and apply it to your total (VAT inclusive) turnover.  That is the amount you pay to HMRC.

With most flat rate percentages being between 8% and 12%, it is easy to see how a lot of businesses profit from using this system.  On top of that, newly VAT registered businesses get a 1% discount in their first year of VAT registration!

Having said that, not all businesses will be better off on flat rate VAT.  Below is a handy calculator that will tell you whether you are likely to benefit or not and by how much.

Feel free to get in touch if you would like to discuss in more detail.
Copyright © 2013 by Taxwise Accountants Ltd  ·  All Rights reserved  ·  E-Mail: office@taxwise-accounting.co.uk
Taxwise Accountants Ltd | Registered in England & Wales | Registered No.:  08416929
Taxwise Accountants in Sale, Manchester
Copyright © 2013 by Taxwise Accountants Ltd  ·  All Rights reserved  ·  E-Mail: office@taxwise-accounting.co.uk
Taxwise Accountants Ltd | Registered in England & Wales | Registered No.:  08416929

Telephone: 0161 917 7341

Taxwise Accounting is a trading name of Taxwise Accountants Ltd, a limited company registered in England under Company number 08416929. Our registered office is: 11 Avondale Lodge, Whitehall Road, Sale, Manchester, M33 3WJ UK

Taxwise Accounting
Avondale Lodge
Whitehall Road, Sale
Manchester  M33 3WJ
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