VAT Flat Rate - what %? - Contractor UK Bulletin Board

Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

Goya replied

10 November 2006, 21:58
Looks like I'll be sticking with 13% then!
Leave a comment:
Nixon Williams replied

10 November 2006, 09:26
It sounds like you are on the right rate, ie 13% (12% in year one) - the other rates are used if they genuinely fit what you do. On application the VAT people will generally accept what you describe yourself as, however if they pay you a visit and have an issue with the percentage you use you can store up problems for the future.
Leave a comment:
DaveB replied

9 November 2006, 22:30
It all depends on the nature of your business and the kind of consultancy you do. If you dont specifically provide IT consultancy,Comupter consultancy ( apart from computer repair which is 11% anyway ) or Management Consultancy then you can make an argument for "Business services not listed elsewhere" which gets you in at 11% - 10% for the first year.

Peronally I provide Audit, Governance, Information Security and Risk Management services none of which, I belive, could be classed as IT related or as specifically Managment Consultancy.
Leave a comment:
Goya started a topic VAT Flat Rate - what %?

9 November 2006, 20:48
VAT Flat Rate - what %?

Hi,

What VAT percentage are people on here, if registered for the flat rate scheme?

I'm on 13% (12% in the first year).

I read another post recently suggesting 11%.

Having filled in forms saying I'm a consultant, I guess I'll be sticking with the 13% rate, unless there is another potential rate, if I change my job description a little?!
Tags: None