On end of year accounts would the total revenue figure exclude VAT at the flat rate level if your on it or 17.5% regardless ?
So lets say your turnover is £100k including VAT at 17.5% but your on the flat rate scheme so you pay 13% would the total revenue figure stated be £87k or £82.5k ?
£100k - £13k (13% flat rate Vat) = £87k
or
£100k - £17.5 (17.5k) % VAT = £82.5k
Not sure if the total revenue figure in my accounts is overstated or not.
So lets say your turnover is £100k including VAT at 17.5% but your on the flat rate scheme so you pay 13% would the total revenue figure stated be £87k or £82.5k ?
£100k - £13k (13% flat rate Vat) = £87k
or
£100k - £17.5 (17.5k) % VAT = £82.5k
Not sure if the total revenue figure in my accounts is overstated or not.
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