Dumb VAT Question - apologies in advance.

[PhilAtBFCA]

Vat Frs

Bluebird

FRS calculation is x% of the INVOICE TOTAL

Yes if those are the only "supplies" you have, but if you have bank interest ( sorry if this is repeated for anyone who has followed the other threads on this ) you need to include that, so maybe its best to think of "Flat rate Turnover" rather than "Invoice Total" See here for further details.


Phil

[BolshieBastard]

being on the FRS.

And yes, I use 11.5% but others don't.

No, first year of company existence. If you join FRS after the company's first year, the discount doesn't apply.

Or is that what you meant?