So how does flat rate vat work?

[ASB]

Zero Rated T/O

Considering the flat rate scheme is a very poor idea for anybody who is likely to get more than about 3% of their turnover from zero rated supplies. So if you are likely to be billing overseas tread carefully - you will be paying vat on zero rated turnover.

Also the 2k when you can reclaim is, I beleive, only for capital equipment. So if you subbed some work out or similar then you are still going to get stiffed for the input vat.

[antagoneyes]

Re: Zero Rated T/O

ASB - the rules are unclear enough without clouding the issue with obscurity

Thank you

[ASB]

Obscurity

Fair enough, but it's not really obscure.

Take that [hypothetical] 6 monther overseas and then discover that you have to pay 10k in VAT to HMCE and have charged nil.>: