What income do I exclude from my flat rate turnover for VAT?

You exclude from your flat rate turnover:

  • private income, for example income from shares
  • bank interest
  • the proceeds from the sale of goods you own but which have not been used in your business
  • non-business income and any supplies outside the scope of UK VAT, and
  • sales of capital expenditure goods on which you have claimed input tax
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