VAT Flat Rate Scheme - Full Breakdown

Being VAT registered can feel overwhelming, especially if you're running a small business. But what if there was a way to simplify it all? Enter the Flat Rate Scheme (FRS). Designed for businesses with a turnover of £150,000 or less (excluding VAT), the FRS is meant to make VAT accounting simpler by applying a fixed percentage to your gross sales. Sounds good, right? But here’s the catch: if not handled correctly, the scheme could cost you money instead of saving it.

Hit play now to simplify your VAT accounting and stay one step ahead in your business.