The Flat Rate VAT scheme is a government incentive designed to help self-employed people, allowing them to charge VAT out at the full rate, but pay it to HMRC at a lower rate, generating additional funds.
This initiative is tailored to different industries, for example, courier drivers under the Flat Rate VAT Scheme can charge VAT out at the full 20%, but in the first twelve months only pay HMRC at 9%.
This benefits thousands of Sole Traders across the UK, allowing them to build their VAT pot throughout the year. Beamin can take care of all of this, meaning you’re able to feel the Beamin’ boost!