I record all my expenses in FreeAgent anyway. It's too easy not to. VAT calculations are all done for my accountant..!
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Flat Rate Scheme for IT contractor?
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Originally posted by l35kee View PostI record all my expenses in FreeAgent anyway. It's too easy not to. VAT calculations are all done for my accountant..!
As you say, no reason not to.
If an accountant recommends FRS to a contractor it's simply less work for them.See You Next TuesdayComment
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Flat Rate for first year.
Make sure to buy all your fixed assets (laptop, etc.) before the Flat Rate start date, and you can claim VAT for those as well.Comment
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Originally posted by zonkkk View PostFlat Rate for first year.
Make sure to buy all your fixed assets (laptop, etc.) before the Flat Rate start date, and you can claim VAT for those as well.Comment
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Originally posted by SeanT View PostAlthough if the laptop purchase (including anything else you buy in the same order iirc) is over £2k ex. VAT you can claim for this after registration too.Comment
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I bought my laptop etc first, then moved on to the flat rate scheme. 1% discount starts from your trading date I believe.Comment
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Originally posted by l35kee View PostI bought my laptop etc first, then moved on to the flat rate scheme. 1% discount starts from your trading date I believe.
It’s from the effective date of being vat registered (which is on your vat cert) can be different from the date you applied or the date you started trading.
I.e when you register for flat rate you say when you want to start from.Comment
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Originally posted by sketchandsunshine View PostNo. I’m sure I looked this up a couple of days ago so I could diarise when to switch.
It’s from the effective date of being vat registered (which is on your vat cert) can be different from the date you applied or the date you started trading.
I.e when you register for flat rate you say when you want to start from.
it is one year from the anniversary of your being VAT registeredComment
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