Flat rate VAT scheme
Is the VAT flat rate scheme right for you?
Whether or not the VAT flat rate scheme is beneficial for you would depend upon the administration costs saving due to its simplicity weighed against the fact that in most circumstances, input VAT cannot be reclaimed.
Use our handy calculator
We have created a handy calculator for you to quickly calculate whether you would be better off joining the scheme. Some businesses, in particular those with exempt supplies, may be worse off under the scheme.
Click here to read the rest of this guide (Flat rate VAT scheme)
Tax deductible expenses
There is a great deal of confusion as to what you can and what you can’t deduct from your profit for tax purposes.
This tip gives a brief list of the types of expenditure you can claim, some of which you may already be deducting, some may be new to you and applicable to your business.
Click here to read the rest of this guide (Tax deductible expenses)
