Hi
I have a client that wants to register under FRS scheme for VAT, he is a welder.
Does he go under "Manufacture and Fabrication of Metal Products" at 10.5% or services not listed elsewhere at 12%
Replies (1)
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Manufacturing implies purchasing the raw materials yourself hence the lower rate. It's a reasonable rate to choose though so go ahead, if HMRC successfully challenge it they won't be able to make any retrospective change so long as your choice was reasonable.