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Flat Rate VAT


Leo No.8
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I own a recruitment business and we're on the flat rate VAT scheme, is anyone else and have you found you are worse off?

 

Previously we charged VAT at 17.5% and paid a flat rate of 11%. Since VAT has been reduced to 15% we have been doing our first return and have found out we now pay 9.5% taking 1% of the benefit away.

 

So basically in the midst of a recession the government has actually done something to take money away from small to medium sized businesses, whilst the reduction of VAT to 15% has done absolutely f*ck all to stimulate spending on the high street.

 

What a pile of sh*te. The money it'll cost the government could have been used far better.

Edited by Leo No.8
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