NEARLY 19,000 businesses in the surveying and architectural sectors are not taking advantage of a scheme which is designed to help with their VAT.
According to figures from Customs and Excise, while more than 25,000 businesses might be eligible for the scheme, only 25 per cent have joined up.
Introduced in 2002, the VAT Flat Rate Scheme allows small business owners with a turnover of up to £150,000 to calculate their VAT payment as a percentage of the total turnover, rather than having to calculate the VAT on each individual purchase and sale.
In a recent survey, nearly all (98 per cent) agreed that the time saved was beneficial to the company.
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