VAT Flat Rate Scheme - a quick explanation

In this video I explain what the Flat Rate Scheme for VAT is all about.

What is it?
Why would you use it?
How does it work?

If you are a small business with annual turnover of no more than £150,000 excluding VAT then you may be eligible to join.

This video is for all businesses, not just the ones using Xero.

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📘 LINKS REFERRED TO IN THE VIDEO 📘

HMRC - flat rate scheme rates
https://www.gov.uk/vat-flat-rate-sche...

HMRC - flat rate scheme overview
https://www.gov.uk/vat-flat-rate-scheme

HMRC - VAT Notice 733 - full details
https://www.gov.uk/government/publica...

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🎥 OTHER VIDEOS 🎥
There are 2 further videos in this series

Video 2
VAT Flat Rate Scheme - how it works in Xero
   • How the Flat Rate Scheme for VAT work...  

Video 3
VAT Flat Rate Scheme Calculator - find out if you can save money on the VAT you pay by joining the Flat Rate Scheme.
   • VAT Flat Rate Scheme Calculator  

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📚 OTHER USEFUL RESOURCES 📚

If you need further help with Xero, then have a look at these resources:

🤹🏼‍♀️ Our friendly Facebook Group for UK Xero users   / ukxerosupporthub  

🎓 Join over 4,000 students on my best selling Xero course - 'Learn Xero in a Day'
https://www.udemy.com/course/xero-in-...

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I'm available for 1 hour online coaching by Zoom - book your place using the link below.
https://xusolutions121coaching.as.me