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Sam, Accountant
Category: Tax
Satisfied Customers: 7508
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I have been advised that I am on th wrong Tax rate. I am on

Customer Question

I have been advised that I am on th wrong Tax rate. I am on the falt rate scheme, and have been told i should have been on the Standard rate scheme. What I want to know is can i reclaim any incorrect VAT payments made to the HMRC? What would be the typical VAT return on invoices made of £61000 on Flat Rate Vs Standard Rate
Submitted: 1 year ago.
Category: Tax
Expert:  Sam replied 1 year ago.


Thanks for your question

You would only have been placed on the flat rate scheme had an application been made to HMRC

VAT for this specific scheme and your rate at flat rate is determined by your trade (so varies) and if you had been standard rate then you would be able to claim VAT suffered against the standrd rate charged, so I would need all this additional information to advsie further.


1) What rate have HMRC advised you to charge on the flat rate scheme

2) When you advise £61,000 is this excusing VAT (flat rate) or including

3) What VAT did you suffer for the same period on which this £61,000 applies (so VAT suffered on purchases)

I can then advise further