To be eligible for Beamin, you must operate as a Sole Trader and either lease, rent, or own a commercial vehicle (van).
In addition to this, you must meet the HMRC eligibility criteria in order to benefit from the reduced Flat Rate VAT scheme.
To do this, you must be able to prove that you are not a Limited Cost Trader. This means you must spend more than 2% of your Flat Rate turnover (minimum of £250 a quarter) on relevant goods. Examples of relevant goods are:
- Fuel
- Van damages
- Workwear
Beamin is currently available to new self-employed drivers using Wise. However, there are plans in the future to offer Beamin services to all self-employed drivers using the Wise app.