Pro-Taxman

FRS VAT

Tax Calculation

Most VAT-registered business can use the flat rate scheme if it is expected that VAT taxable turnover in the next 12 months to be £150,000 or less. Read more…

FRS for VAT – Who is it for? The VAT flat rate scheme (FRS) is used by many small businesses to help simplify their VAT reporting obligations, although some VAT experts would argue that the scheme is not simple to use. Broadly, the FRS is a simplified VAT accounting scheme for small businesses, which allows …

Most VAT-registered business can use the flat rate scheme if it is expected that VAT taxable turnover in the next 12 months to be £150,000 or less. Read more… Read More »