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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...

    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...

    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...