Reply To: Which flat rate should I use and will it benefirt me to register before exceeding £85k threshold

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4 November 2019 at 10:12 #55965
elliotset
Member

Thanks for the response.
When I registered online I was automatically allocated a “not listed general engineering flat rate of 14.5%” – since my expenses historically exceed the limited cost trader threshold I assume this will be OK & if I understand correctly I can also claim a 1% first year discount , hence will repay VAT at 13.5% for first year.