I need to set up a flat rate scheme in Sage and am hoping someone can advise me on the physical setting up of it.
I have purchases as T9, in the VAT configuration T1 is still at 20% but then in the company preferences i have ticked the cash based flat rate with the rate at 7.5% which is the rate given by HMRC.
Does this sound right? It seems to be working if I do a dummy return in the practice data but I don't want to input all the sales and then it be wrong.