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thunderlizard
11th January 2004, 17:17
Anybody else going for the flat rate VAT registration? (thanks to SJD for pointing it out, full story on CUK news). My back-of-a-Rizla calculations tell me you're better off as long as you spend less than £127 on VAT-able expenses per £1000 you bill, which I reckon many of us will.

fiddleabout
11th January 2004, 18:47
Certainly looks more attractive now they have dropped it to 13%. I'll do the sums but it sounds good to me - the old 14.5% would have actually cost me money.

*update*
It did look good and I've asked my accountant to get me switched over.

On a seperate issue the C&E issued me with a fresh VAT registration document showing my trade classification as 72600 other computer related activities.

Anybody else have this? May be after my telephone VAT inspection where I went over all my company activities. I did wonder if it might give me an even better flat rate but it doesn't seem so - they go by description not the code numbers they have issued :(