Sub-contractors who are on the flat rate scheme should instead account for the transaction as if they were on the standard scheme. Therefore, users of the scheme will have to consider if it is still beneficial to them when VAT is not being paid to them on some or all of the invoices they issue. Flat Rate Scheme users who receive reverse charge supplies will also have to account for the VAT due to HMRC as they would under the standard scheme. [BCB:90:CIS - Sales:ECB] |