simple flat rate vat question

BoredBloke

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#1

simple flat rate vat question

11 April 2011, 13:37

On my contract I have to use a self billing system via the agency. The December invoice which cleared into my company account in mid Jan was paid using the old rate of 17.5% and the subsequent ones have all been at 20%. Am I ok in using the old FRS percentage of 13% on the invoice paid at 17.5% and 14.5% on the 2 later ones paid at a vat rate of 20%

Those are the correct percentages arn't they. In the whole scheme of things, the end result is not a huge amount of cash, but I don't want to hand over money that I don't have to!

Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

I preferred version 1!
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Danielsjdaccountancy

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#2

11 April 2011, 14:12

Looks right to me!

http://uk.linkedin.com/pub/dan-moss/18/18/105
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BoredBloke

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#3

12 April 2011, 08:06

Thanks

Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

I preferred version 1!
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Scrag Meister

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#4

13 April 2011, 07:23

Thats what i did over the same time period.

I get out of nick in 2 weeks!! :-)

Never has a man been heard to say on his death bed that he wishes he'd spent more time in the office.
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