I think you will find that is just what I have said, but I’ll bow to your obviously greater knowledge on this subject. 
Stanley Knife:
I think you will find that is just what I have said, but I’ll bow to your obviously greater knowledge on this subject.
Really, it doesnt read like that.
With the Flat Rate Scheme, part of the Vat DOES belong to the company concerned.
The severe cost that you mention for non payment is NOT APPLICABLE for the amount kept by the company which the company is legally entitled to keep.
Stanley Knife:
Honestscott76:
There are many ways to spend a £1000 pa.Remember the ruling that you must spend less than 2% of your gross turnover on goods, or if more than 2% of your turnover, the amount spent on goods is less than £1,000 per year.
And then remember that any company in such a position will come under the watchful eye of HMRC.
Ok, there’s many ways to spend a £1001.00. The HMRC can watch all they like, it’s within the rules. [emoji6]
It’s fairly obvious that neither of you is actually reading the information from HMRC and therefore I’m wasting my time. Good luck to you both.
Hmrc will be better off
Look at it this way
You work for companies a b and c
Who are fully vat reg on the normal vat
So the vat you charge 20% they claim straight back
So zero there to hmrc
On frs for arguments sale what ever current rate is
The 20% you have got
Hmrc receive 12% you keep 8%
But as no vat able or very few supplies as a driver
You pocket 8%
Hmrc get 12% but already lost 8%
As company you invoices have claimed the whole 20% back
With the new 16.5%
Every £100 plus vat you invoice
Hmrc will get £19.80 of the vat
You 20 pence per £100
So hmrc are better off
If you deregister
They are still better off than before