newly vat registered how to approach customers

[Dan Maynard]

Would be best to get the advice fron a good accountant but from my experience and others I know that where on the flat rate we had to start paying the higher rate of 16.5% which means we were better off paying the full VAT rate and then claiming back VAT on everything. 
 
 

You're right of course, my accountancy knowledge could be written on a postcard.

I remember 20 years ago being told not to go near accounts department in the week vat return due because it was such a headache, nowadays I think the software handles the calculation so much that I'm not sure it is worth the flat rate scheme anyway.

[Joe Newton]

On 13/11/2021 at 11:30, Jonny69 said:

You will have to absorb 16.66%, not 20% as you are knocking the vat off the total. 

There's a really easy way to avoid it... I'm surprised you don't know about it.