Click on any picture to go back to the previous page.  With the Flat Rate Scheme, you only need to enter VAT for sales or takings, so this is a simpler system to run.  HM Revenue & Customs have allocated a standard flat rate to a number of industries, in a range from 4% up to 14.5% of gross turnover  (compare this with a rate of 16.7% for a business charging output tax at 20% but never claiming input tax).  A switch to the Flat Rate Scheme would be advantageous to you if your industry rate were less than your average rate based upon your last few VAT returns.  If you let us do your VAT returns, then we will monitor this using our specialist spreadsheet system and let you know if a switch would be worthwhile.