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Topic Archives: Flat Rate Scheme

The Flat Rate Scheme is one of the VAT schemes offered by HMRC. This scheme could save you as a contractor or freelancer £1,000’s, read our blog posts to find out more.

what is flat rate scheme (frs)

VAT Flat Rate Scheme

What is VAT Flat Rate Scheme (FRS)? This is a special VAT scheme designed for contractors, freelancers and small businesses with turnover below £150,000.  It allows you to still charge 20% VAT on invoices, but only pay HMRC back at a smaller percentage – depending on your business category. Who is it for? As part [...]

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