Business Analyst and FRS VAT category

[MrMarkyMark]

In reality, his claim of "front office trading" would make me suggest "Accountancy or book-keeping" (14.5%)
He could argue "Management consultancy" (14%)
But if he is testing and implementing systems and business processed, then it is "Computer and IT consultancy or data processing" (14.5%)

Na, not as good as "Business services not listed elsewhere" at 12%

[WTFH]

choose the one with the lowest rate that has anything to do with what you do

is that the answer you were waiting for?

Maybe he should go buy coffees from Starbucks, then he could say:
"Retailing food, confectionery, tobacco, newspapers or children’s clothing", that'll be 4% please ker-ching!


In reality, his claim of "front office trading" would make me suggest "Accountancy or book-keeping" (14.5%)
He could argue "Management consultancy" (14%)
But if he is testing and implementing systems and business processed, then it is "Computer and IT consultancy or data processing" (14.5%)

[MrMarkyMark]

is that the answer you were waiting for?

I think it was .

Point is I'm sure HMRC show a particular interest in the "Business services not listed elsewhere", category, purely, to make sure everyone is assigned correctly, of course

[pr1]

choose the one with the lowest rate that has anything to do with what you do

is that the answer you were waiting for?

[ContractorBanking]

For this gig. I'd be very surprised if you could find enough end to end BA gigs to keep you in this category.

That's a very good question NorthernLad.

I specialise in front office trading so my next gig is in this category and will be for the forseeable future.

Of course, the landscape could change and who knows where I may end up, but this is my SME (subject matter expertise) so my plan is certainly to continue down this road.

It raises a separate point - how often can you change FRS categories?

[MrMarkyMark]

Are you talking about the single gig you are on right now? Would thinking about the future and what gigs you are likely to end up in after this one will be? I can't believe you are going to be doing exactly the same thing for the life of your LTD.

This +1.

What is wrong with Computer and IT consultancy or data processing, exactly?
Unless your aim is to keep more of the VAT, by suggesting you are something else.

Then that article, could be of great relevance.

HTH.

[northernladuk]

At the moment, I'm inclined towards 'business services not listed'..

For this gig. I'd be very surprised if you could find enough end to end BA gigs to keep you in this category.

[WTFH]

At the moment, I'm inclined towards 'business services not listed'..

But it is listed, you just don't like the options given and think you are special.


Easiest way to find out is to email permies that you deal with in your job, give them the list and ask them to pick.


If you email 10 people, then choose what the majority say.

[ContractorBanking]

At the moment, I'm inclined towards 'business services not listed'..

[northernladuk]

Are you talking about the single gig you are on right now? Would thinking about the future and what gigs you are likely to end up in after this one will be? I can't believe you are going to be doing exactly the same thing for the life of your LTD.

[ContractorBanking]

I would start by looking at what it is that you actually do:

Do you provide advice and consultancy services? If so, this is likely to fall under 'management consultancy', as this would be business consultancy services that you are providing.

If however, you are actually completing the analysis yourself, testing, implementing, etc, this is likely to fall under 'business services not listed'.

There was an interesting article around this subject;

VAT flat rate category choices in danger of attack

Hope this helps

Thanks Louisa. Interesting.

Unfortunately, things don't quite fit so easily in the real world categories.

Primarily, it falls into consultancy services. There is an element of IT, naturally, due to the nature of the business. Mainly I would say it involves testing and implementation. Of systems and business practices.

So its a tough call. I don't think "Management Consultancy" is the right category, as per your link.

Its a tough call. Just wanted to know what everyone else was doing in a similar situation..

[Louisa@InTouch]

I would start by looking at what it is that you actually do:

Do you provide advice and consultancy services? If so, this is likely to fall under 'management consultancy', as this would be business consultancy services that you are providing.

If however, you are actually completing the analysis yourself, testing, implementing, etc, this is likely to fall under 'business services not listed'.

There was an interesting article around this subject;

VAT flat rate category choices in danger of attack

Hope this helps

[ContractorBanking]

For all your Business Analysts out there, what FRS category do you fall into?

https://www.gov.uk/vat-flat-rate-sch...w-much-you-pay

The obvious one is "Computer and IT consultancy or data processing" but I work more on the business side (trading side) so not sure what category to pick.

Looks like "Business services not listed elsewhere" is more a better fit as its more business than IT related.

Those in a similar situation, what category do you pick?