VAT Flat Rate Scheme Calculator

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Use this calculator to find out if you are likely to benefit from the VAT Flat Rate Scheme.

Calculator

How much will you pay under the flat rate scheme.

Flat rate applicable to your trade%

If unsure, categories are included in the 2009 pre-budget announcement

Last years turnover(excluding vat)£

VAT @17.5%£

Gross Turnover£

Vat reclaimed on Capital Expenditure over £2000£

VAT payable under the flat rate scheme£

How much VAT do you pay under the present system.

VAT as above£

Add: VAT on fuel scale charges for a year£

Less: Vat reclaimed on all inputs in the last year£

VAT payable under the present system£

DIFFERENCE BETWEEN THE TWO SCHEMES£

Notes:

This calculator relates to VAT at 17.5% and the rates of the categories applicable to those rates. This will change when the VAT rate increases on 4th January 2011 to 20%.

The VAT Flat rate scheme is designed to simply the completion of vat returns for small businesses but for those who qualify it can also reduce VAT liabilities.

See our helpsheet on the VAT Flat Rate Scheme.