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    Value added tax - Specific situations - Second-hand goods and collectors' items - Auctioneers' scheme - 82340

    The auctioneers' scheme is a variant of the basic margin scheme, so there are many similarities. The scheme is optional and can be operated on a transaction-by-transaction basis. When an auctioneer sells...

    Value added tax - Special accounting methods - Flat rate scheme - Operating the scheme - Limited cost trader - 83115

    The following table shows the rates applicable to the various business sectors defined by HMRC. Category of business carried on Flat rate % Accountancy or book-keeping 14.5 Advertising 11 Agricultural...

    Value added tax - Special accounting methods - Agricultural flat rate scheme - 83220

    An optional scheme is available for farmers under which no VAT is reclaimed on purchases, or output tax charged on sales. Instead, a flat rate levy is charged to VAT-registered customers and...

    VAT - VAT agricultural flat rate scheme

    VAT agricultural flat rate schemeFrom 1 January 2021, traders with farming-related turnover of more than £230,000 will be required to leave the agricultural flat rate scheme. A...

    10. Agricultural flat rate scheme - What is the agricultural flat rate scheme (AFRS)?

    What is the agricultural flat rate scheme (AFRS)?The AFRS is, as the name suggests a flat rate scheme designed for farming and similar types of business. An unusual feature of the scheme is that...

    Agricultural flat rate scheme letter

    Agricultural flat rate scheme letterIf you operate a small farming business, you might qualify for a little known scheme that can give your cash flow a boost.When is the scheme available?The agricultural...