VAT fixed rate scheme change rate
Question asked by Chris Lewton 8 years ago
Hi Can anyone advise how I change the my fixed rate VAT to a new rate and how I stat this from an earlier period?
Thanks
Hello Chris,
To update your tax scheme you will need to go to Settings > Organisation > Tax & Details > Tax, select the "manage VAT scheme" link.
FYI: Any invoices created in the tax period that were generated before the update, will need to be edited and updated to register the new tax rate.
Thanks, Theo
Best answerAll sorted thank you all.
I hesitate to step in here but, just in case, if you are on the cash basis of the FRS it's the invoice that determines the FRS% to use not the % that applies when the cash is received.
You must 