The flat rate VAT scheme allows a concession for the payment of VAT by small businesses (t/o <£150k)
The rate depends upon the activity of the business
gov.uk/vat-flat-rate-scheme … ch-you-pay
Presumably, external transport managers would fall into the 10% bracket
That’s right, but please bear in mind you pay 10% of the gross value of the invoice, i.e. for every £100 + £20 VAT you have charged you have to give £12 to HMRC.
New changes announced to flat rate scheme which will affect TM’s and LTD Co. drivers.