VAT & The Flat Rate Scheme - Traps for the Unwary & More

VAT & The Flat Rate Scheme - Traps for the Unwary & More


16 Jul 2024

2:30 PM ‐ 4:30 PM

With a SmartPlan £144

With a Season Ticket £160

Standard price £320

All prices exclude VAT
Introduction: Requires no prior subject knowledge
2 hours
Group bookings
email us to discuss discounts for 5+ delegates


The Scheme looks simple and easy to use, and it is essentially, but there are traps for the unwary. What rate should be used? What should be included in turnover? What about input tax claims? One size does definitely not fit all!

This virtual classroom session covers every single aspect of the scheme and highlights those traps so that they can be avoided.

Who is it for? Anyone who needs an in-depth grounding on the scheme and its workings. The course is highly interactive and covers relevant case law.

What You Will Learn

This live and interactive course will cover the following:

  • Brief summary of the Scheme, including eligibility and main conditions, and ‘growing out’
  • Determining the correct Flat Rate Percentage- the ‘ins’ and ‘outs’ and finer points
  • What is a limited cost business?
  • Interaction with other VAT schemes
  • Records - how to invoice, keep records and complete the VAT return
  • Turnover and cash-based methods
  • International goods and services
  • Retailers and Barristers
  • Capital expenditure goods- what are they exactly?
  • Bad debt relief
  • Leaving the scheme - when you must, and when you can. How to do it, and appeals

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.