What is a limited cost trader?

Expenses and Tax Reliefs, Understanding Your Taxes, VAT / By / ,

The Flat Rate VAT Scheme (FRS) is a popular choice for small businesses as it helps to simplify VAT reporting. However, if your business spends a minimal amount on goods, you might fall under the Limited Cost Trader category, which affects the VAT rate you pay. Let’s dive into what it means to be a

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