Beware Limited Cost Test if you use the VAT Flat Rate Scheme

By P&A Knowledge Team · 30 April 2019 · Posted in Value Added Tax

The VAT Flat Rate Scheme (FRS) has been designed to simplify the way a business accounts for VAT and in so doing, reduce the administration costs of complying with the VAT legislation. The scheme is open to businesses that expect their annual taxable CONTINUE READING