Introduction: the Flat Rate Scheme
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 FRS. External users can find the guidance at http://www.hmrc.gov.uk/manuals/frsmanual/index.htm.
The VAT Registration and Accounting Policy team has policy responsibility for the scheme.