Flat Rate % decision

Flat Rate % decision

Didn't find your answer?

I need to decide what flat rate percentage to use in the FRS application for an occupational psychologist supplying business psychology services to organisations. (They expect not to supply 'medical care' which are exempt services).

I would be grateful for some advice  12% Any other activity not listed elsewhere or 14% management consultancy?

Replies (2)

Please login or register to join the discussion.

By coolmanwithbeard
26th Oct 2012 00:09

FRS Percentage

My vote is Mgt Consultancy 14% - based on this paragraph in Sect 4.4 of their notice on FRS (733)

 

Note: If you act as a consultant and you do not fit into another specific sector, you should choose Management Consultancy. This sector is not restricted to businesses that fit the traditional idea of management consultant.

Happy to be out voted however :P

Mike

Thanks (0)
avatar
By cbp99
26th Oct 2012 16:13

I would go for

any activity not listed elsewhere. It doesn't sound like consultancy to me, or a "close fit" (par 4.1 of the Notice), although it may depend on the detail of what they do.

The important thing is to be able to show at a later date that you considered the rationale for your choice, to avoid backdating if HMRC disagree (para 4.2)..

Thanks (0)