VAT Calculator Flat Rate

What is the VAT Flat Rate Scheme? In the flat rate scheme, businesses usually charge VAT to their consumers and pay VAT when they buy goods and services from the suppliers. But when we talk about VAT reclaim or paying VAT to HMRC, things get slightly different. You need to add up all sales, including…

What is VAT?

What is VAT? In the UK(United Kingdom), every business is charged a tax on sales and services provided to consumers, called VAT(value-added tax). An organisation known as HM Revenue & Customs(HMRC) imposes VAT on businesses and receives VAT from them. A company can demand back the VAT it paid for the production of goods. Historic…