VAT – will your business benefit from the Flat Rate Scheme?
As an SME, whether you are self employed or a limited company, if your turnover becomes above £82,000 (£81,000 2015) then you are obliged to register for VAT. You are therefore obliged to charge VAT on your sales, at the going rate, currently 20%, and claim VAT on your expenses accordingly. At the end of […]
