We often get asked the question: can I go on the Flat Rate VAT Scheme? The answer for most contractors used to be a straight-forward: yes. Now, however, it’s not quite that simple. If you’re a contractor with limited outgoing expenses, you are likely to be classed as...
Read MoreChanges to the Flat Rate Scheme Many contractors are registered for VAT, and use the flat rate scheme (FRS). VAT registered businesses have to charge VAT on most types of sale, and can recover VAT on many types of cost. On the standard (non – FRS) VAT scheme, the...
Read MoreVAT Part 2 : Which VAT scheme to operate? At JSA we are often asked by contractors operating through their own limited company which VAT scheme they should operate. There are various schemes open to contractors who wish to or have to register their business for VAT,...
Read MoreVAT Part 1 : What do limited company contractors need to know about VAT : should I or shouldn’t I? At JSA we are often asked by contractors operating through their own limited company whether or not they need register for VAT. In this blog we’ll look at the basics of...
Read More