Limited Company Flat rate Vat

**SimonMac** · 12 January 2012, 20:14

Originally posted by macgabhr View Post

I have a quick question regarding the flat rate vat scheme. If I register for a flat rate and I am entitled to a rebate of say 5% is my company (ltd company) liable to pay corporation tax on this rebate as technically it is profit for my company?

Thanks

Bob

Yes

**TheFaQQer** · 12 January 2012, 20:19

You might want to have asked this in the accounting forum, rather than here.

I wasn't aware that you got a rebate for FRS.

**MarillionFan** · 12 January 2012, 20:19

Originally posted by SimonMac View Post

Yes

In that case, without bothering to head over to the professional boards or search the site up to what turnover or expenses threshold is flat rate better than 20% and what's the difference?

[calculators ready]

**SimonMac** · 12 January 2012, 20:23

Originally posted by MarillionFan View Post

In that case, without bothering to head over to the professional boards or search the site up to what turnover or expenses threshold is flat rate better than 20% and what's the difference?

[calculators ready]

Calculator? N00b can't you do those sums in your head, bloody yoof of today rely on technology way too much, why bother learning anything, lets just Google it and hope that Wikipedia is up to date

**northernladuk** · 12 January 2012, 20:25

Originally posted by SimonMac View Post

Yes

No

**MarillionFan** · 12 January 2012, 20:25

Originally posted by SimonMac View Post

Calculator? N00b can't you do those sums in your head, bloody yoof of today rely on technology way too much, why bother learning anything, lets just Google it and hope that Wikipedia is up to date

So you can't do it? Ok. No problem.

**TheFaQQer** · 12 January 2012, 20:31

Originally posted by MarillionFan View Post

In that case, without bothering to head over to the professional boards or search the site up to what turnover or expenses threshold is flat rate better than 20% and what's the difference?

[calculators ready]

Assuming that all expenses are zero rated, then you are always better being on FRS.

**MarillionFan** · 12 January 2012, 20:41

Originally posted by TheFaQQer View Post

Assuming that all expenses are zero rated, then you are always better being on FRS.

Calculation of expenses versus turnover?

**TheFaQQer** · 12 January 2012, 20:46

Originally posted by MarillionFan View Post

Calculation of expenses versus turnover?

Depends on the rate of VAT for each expense class, doesn't it?

There is no answer.

Limited Company Flat rate Vat