VAT, from standard to flat rate

[ASB]

Good news, thanks to all for the advice

LL

A bit more...

You said an exisiting company. You don't indicate what this is, but when you select the single var rate your are used it depends upn your overall profile. This can be good or bad for you. It's all on HMRC website.

[conned tractor]

Apologies in advance if a stupid question and for hijacking a thread......but.........

I'm in the process of setting up Ltd (should be incorperated by tomorrow) and have a contract at £38 ph for 18 weeks (till christmas). I understand the traditional method of charge VAT/ claim VAT at standard rate, and it has been explained to me how the FRS works, but what is the flat rate. Is there a standard rate dependant on business, i.e. contracting, or is it more specific than that?


TIA

conned tractor

[conned tractor]

OK got it.....just being idle....here it is for everyone else:

http://customs.hmrc.gov.uk/channelsP...345#P169_14547

HMRC notic 733: Flat Rate Scheme for small businesses