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  • Tips & Advice You & Your Business - Is it worth volunteering?
    Is it worth volunteering?.. Since April, your business hasn’t been compelled to register for VAT until its annual turnover exceeds £67,000. However, you may benefit from voluntarily registering under the flat rate scheme. What’s to know? What is the flat rate scheme (FRS)? Under the FRS you pay a single flat rate percentage of your VAT-inclusive turnover without deducting any VAT paid on your business expenses. The relevant percentage is determined by the VATman and will depend on your type of business....
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