SolvedVATREG01450 | Introduction: the Flat Rate Scheme
From HM Revenue & Customs · VAT Registration
The Flat Rate Scheme (FRS) allows an eligible business to pay VAT as a percentage of its VAT-inclusive turnover instead of having to work out the VAT on all its sales and purchases.
Guidance on the FRS can be found in VAT Flat Rate Scheme and VAT Notice 733. External users can find the guidance at VAT Flat Rate Scheme - HMRC internal manual - GOV.UK (www.gov.uk).