VAT is one of the most complicated areas of tax. We can advise you on choosing the right scheme and other key VAT issues.
VAT - flat rate scheme
The VAT flat rate scheme for small businesses was introduced to reduce the administrative burden imposed when operating VAT. Under the scheme a set percentage is applied to the turnover of the business as a one-off calculation instead of having to identify and record the VAT on each sale and purchase you make. This factsheet explains how the VAT Flat Rate Scheme works.