VAT flat rate scheme
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It has been "suggested" to one of my clients that they might be better off on the FRS. HMRC have told me that their percentage would be 11%.
In order to prove the bloke down the pub wrong
am I right in doing the following calculations:
Gross sales £117.50
x 11% = £12.92 payable
If I am right then they would be about £150 per quarter worse off under FRS
Please, someone tell me I am correct!
Claudia
In order to prove the bloke down the pub wrong
am I right in doing the following calculations:Gross sales £117.50
x 11% = £12.92 payable
If I am right then they would be about £150 per quarter worse off under FRS
Please, someone tell me I am correct!
Claudia
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