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The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> STANDARD RETAIL SCHEMES VS FLAT RATE - VAT
Post Info TOPIC: STANDARD RETAIL SCHEMES VS FLAT RATE - VAT
phoenix debola


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STANDARD RETAIL SCHEMES VS FLAT RATE - VAT
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Hi All

 

Although a point of sale retail scheme is probably more appropriate, I wonder if anyone knows if it is possible to operate a flat rate scheme for a retail business (cafe) that is vat registered but does not issue vat invoices. Its supplies are mostly standard rated.

 

Thanks

P



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Shamus


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Try this thread :

http://www.book-keepers.org.uk/t43882890/running-a-cafe-vat/

also this older one from accross on UKBusiness forums :

http://www.ukbusinessforums.co.uk/forums/showthread.php?t=88306

and here's the percentages :

http://www.hmrc.gov.uk/manuals/frsmanual/frs7200.htm

And this is a very good thread from over on Aweb :

http://www.accountingweb.co.uk/anyanswers/bad-vat-advice

HTH,

Shaun.



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phoenix debola


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Many thanks for the many links, Shaun. Just gone through them. Very helpful but and it's a big BUT.. I'm still none the wiser re using flat rate for a business that never issues vat invoices. Perhaps it doesn't matter. Thanks again. P

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