An example payment profile for a company commencing using Annual Accounting Scheme from 1 January 2019:
Month from Scheme Start | Month | Monthly Payments | Quarterly Payments |
---|---|---|---|
1 | Jan-19 | ||
2 | Feb-19 | ||
3 | Mar-19 | ||
4 | Apr-19 | 1st Pay | |
5 | May-19 | 2nd Pay | |
6 | Jun-19 | 3rd Pay | 1st Pay |
7 | Jul-19 | 4th Pay | |
8 | Aug-19 | 5th Pay | |
9 | Sep-19 | 6th Pay | 2nd Pay |
10 | Oct-19 | 7th Pay | |
11 | Nov-19 | 8th Pay | |
12 | Dec-19 | 9th Pay | 3rd Pay |
13 | Jan-20 | ||
14 | Feb-20 | Bal Pay | Bal Pay |
For further information on the annual accounting basis read VAT notice 732.
For further information on the cash accounting basis read VAT notice 731.
For a business to qualify for the Flat Rate Scheme it must meet both of the following criteria:
For further information on the flat rate scheme read VAT Notice 733.
Flat Rates | ||
---|---|---|
Type of business | Flat Rate |
1st Year Vat registered % |
Accountancy or bookkeeping | 14.5% | 13.5% |
Advertising | 11.0% | 10.0% |
Agricultural services | 11.0% | 10.0% |
Any other activity not listed elsewhere | 12.0% | 11.0% |
Architect, civil and structural engineer or surveyor | 14.5% | 13.5% |
Boarding or care of animals | 12.0% | 11.0% |
Business services not listed elsewhere | 12.0% | 11.0% |
Catering services including restaurants and takeaways | 12.5% | 11.5% |
Computer and IT consultancy or data processing | 14.5% | 13.5% |
Computer repair services | 10.5% | 9.5% |
Entertainment or journalism | 12.5% | 11.5% |
Estate agency or property management services | 12.0% | 11.0% |
Farming or agriculture not listed elsewhere | 6.5% | 5.5% |
Film, radio, television or video production | 13.0% | 12.0% |
Financial services | 13.5% | 12.5% |
Forestry or fishing | 10.5% | 9.5% |
General building or construction services | 9.5% | 8.5% |
Hairdressing or other beauty treatment services | 13.0% | 12.0% |
Hiring or renting goods | 9.5% | 8.5% |
Hotel or accommodation | 10.5% | 9.5% |
Investigation or security | 12.0% | 11.0% |
Labour-only building or construction services | 14.5% | 13.5% |
Laundry or dry-cleaning services | 12.0% | 11.0% |
Lawyer or legal services | 14.5% | 13.5% |
Library, archive, museum or other cultural activity | 9.5% | 8.5% |
Management consultancy | 14.0% | 13.0% |
Manufacturing fabricated metal products | 10.5% | 9.5% |
Manufacturing food | 9.0% | 8.0% |
Manufacturing not listed elsewhere | 9.5% | 8.5% |
Manufacturing yarn, textiles or clothing | 9.0% | 8.0% |
Membership organisation | 8.0% | 7.0% |
Mining or quarrying | 10.0% | 9.0% |
Packaging | 9.0% | 8.0% |
Photography | 11.0% | 10.0% |
Post offices | 5.0% | 4.0% |
Printing | 8.5% | 7.5% |
Publishing | 11.0% | 10.0% |
Pubs | 6.5% | 5.5% |
Real estate activity not listed elsewhere | 14.0% | 13.0% |
Repairing personal or household goods | 10.0% | 9.0% |
Repairing vehicles | 8.5% | 7.5% |
Retailing food, confectionery, tobacco, newspapers or children's clothing | 4.0% | 3.0% |
Retailing pharmaceuticals, medical goods, cosmetics or toiletries | 8.0% | 7.0% |
Retailing not listed elsewhere | 7.5% | 6.5% |
Retailing vehicles or fuel | 6.5% | 5.5% |
Secretarial services | 13.0% | 12.0% |
Social work | 11.0% | 10.0% |
Sport or recreation | 8.5% | 7.5% |
Transport or storage, including couriers, freight, removals and taxis | 10.0% | 9.0% |
Travel agency | 10.5% | 9.5% |
Veterinary medicine | 11.0% | 10.0% |
Wholesaling agricultural products | 8.0% | 7.0% |
Wholesaling food | 7.5% | 6.5% |
Wholesaling not listed elsewhere | 8.5% | 7.5% |
For further information on other alternative VAT schemes read the following VAT notices:
Click Here to download the current tax year's abacus Tax Tables pdf booklet
Click Here to download the previous tax year's abacus Tax Tables pdf booklet
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