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What is the VAT Flat Rate Scheme? The VAT Flat Rate Scheme is designed to simplify VAT reporting for small businesses. Instead of calculating VAT based on the difference between VAT charged on sales and VAT paid on expenses, businesses using this scheme pay a fixed percentage of their VAT-inclusive turnover to HMRC. While this
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The VAT Flat Rate Scheme is designed to ease the burden of VAT compliance for small businesses. The scheme allows companies to focus more on their core operations by simplifying calculations and reducing paperwork. Here’s an overview of how the scheme works, its eligibility criteria, and considerations for determining if it suits your business. What
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