VAT Flat Rate on Car Hire

VAT Flat Rate on Car Hire

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Hi Guys,

I am looking to apply the flat rate scheme to a car hire company but there is not a specific band for car hire. Would it be safe to go with Hiring or Renting Goods at 9.5%?

Thanks.

Replies (4)

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RLI
By lionofludesch
04th Apr 2017 12:43

What are your purchases of goods like ?

More or less than 2% of sales ?

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By khalm0
04th Apr 2017 14:02

minimal but the bookkeeping has been terrible so easier to do it on a flat rate.

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Replying to khalm0:
By Ruddles
04th Apr 2017 14:06

So you expect the bookkeeping to continue to be terrible?

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boxfile
By spilly
04th Apr 2017 14:08

Lion was making the point that the business may not need to fall into any particular category if it does not have purchases of over 2% of turnover. It will be at the new rate instead.

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