Author Archives: Gillian French

VAT – FLAT RATE SCHEME – WILL IT WORK FOR ME?

All about the VAT Flat Rate Scheme The VAT Flat Rate scheme was introduced in 2012 and it can be used by sole traders,  partnerships  and limited companies if they satisfy HMRC requirements.  Unlike the standard VAT accounting , where  you have to pay VAT on the basis of the difference between  purchases and sales