yes VAT HAS gone up . . .
Discussion
I have just completed my first VAT return since the standard rate returned to 17.5% from the temporary 15%
Prior to 1st Jan 2009 the flat rate for my business sector was 9.5%. During the period the standard rate of VAT was 15% the flat rate was reduced to 8.5%. Now that the standard rate has returned to 17.5% the flat rate has become not the original 9.5% but 10% - a rise of .5% **!^*!
Prior to 1st Jan 2009 the flat rate for my business sector was 9.5%. During the period the standard rate of VAT was 15% the flat rate was reduced to 8.5%. Now that the standard rate has returned to 17.5% the flat rate has become not the original 9.5% but 10% - a rise of .5% **!^*!
restoman said:
I have just completed my first VAT return since the standard rate returned to 17.5% from the temporary 15%
Prior to 1st Jan 2009 the flat rate for my business sector was 9.5%. During the period the standard rate of VAT was 15% the flat rate was reduced to 8.5%. Now that the standard rate has returned to 17.5% the flat rate has become not the original 9.5% but 10% - a rise of .5% **!^*!
Which sector are you in? I have tried the flat rate before but our turnover was too high. Might be worth us having another bash as 10% would be great for us.Prior to 1st Jan 2009 the flat rate for my business sector was 9.5%. During the period the standard rate of VAT was 15% the flat rate was reduced to 8.5%. Now that the standard rate has returned to 17.5% the flat rate has become not the original 9.5% but 10% - a rise of .5% **!^*!
Are you sure it isn't this?
Discount in your first year of VAT registration
There's a one per cent reduction in the flat rate percentages for your first year of VAT registration. So if you are in your first year of VAT registration, you can reduce the flat rate percentage for your sector by one, until the day before the first anniversary of your VAT registration. This discount applies even if the flat rate percentage for your sector changes during your first year of registration.
Discount in your first year of VAT registration
There's a one per cent reduction in the flat rate percentages for your first year of VAT registration. So if you are in your first year of VAT registration, you can reduce the flat rate percentage for your sector by one, until the day before the first anniversary of your VAT registration. This discount applies even if the flat rate percentage for your sector changes during your first year of registration.
Four Cofffee said:
restoman said:
I have just completed my first VAT return since the standard rate returned to 17.5% from the temporary 15%
Prior to 1st Jan 2009 the flat rate for my business sector was 9.5%. During the period the standard rate of VAT was 15% the flat rate was reduced to 8.5%. Now that the standard rate has returned to 17.5% the flat rate has become not the original 9.5% but 10% - a rise of .5% **!^*!
Which sector are you in? I have tried the flat rate before but our turnover was too high. Might be worth us having another bash as 10% would be great for us.Prior to 1st Jan 2009 the flat rate for my business sector was 9.5%. During the period the standard rate of VAT was 15% the flat rate was reduced to 8.5%. Now that the standard rate has returned to 17.5% the flat rate has become not the original 9.5% but 10% - a rise of .5% **!^*!
restoman said:
Four Cofffee said:
restoman said:
I have just completed my first VAT return since the standard rate returned to 17.5% from the temporary 15%
Prior to 1st Jan 2009 the flat rate for my business sector was 9.5%. During the period the standard rate of VAT was 15% the flat rate was reduced to 8.5%. Now that the standard rate has returned to 17.5% the flat rate has become not the original 9.5% but 10% - a rise of .5% **!^*!
Which sector are you in? I have tried the flat rate before but our turnover was too high. Might be worth us having another bash as 10% would be great for us.Prior to 1st Jan 2009 the flat rate for my business sector was 9.5%. During the period the standard rate of VAT was 15% the flat rate was reduced to 8.5%. Now that the standard rate has returned to 17.5% the flat rate has become not the original 9.5% but 10% - a rise of .5% **!^*!
Four Cofffee said:
Are you sure it isn't this?
Discount in your first year of VAT registration
There's a one per cent reduction in the flat rate percentages for your first year of VAT registration. So if you are in your first year of VAT registration, you can reduce the flat rate percentage for your sector by one, until the day before the first anniversary of your VAT registration. This discount applies even if the flat rate percentage for your sector changes during your first year of registration.
I am aware of the discount for first 12 months but no, this isn't the reason the rate has gone from the 9.5% it was prior to the standard rate being reduced from 17.5% to 15% to 10% now - they obviously thought that few people would notice Discount in your first year of VAT registration
There's a one per cent reduction in the flat rate percentages for your first year of VAT registration. So if you are in your first year of VAT registration, you can reduce the flat rate percentage for your sector by one, until the day before the first anniversary of your VAT registration. This discount applies even if the flat rate percentage for your sector changes during your first year of registration.
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