Hi,
Client is running post office Business ( Sub agent ) and until last quarter running flat rate vat scheme but from this quarter turnover- Commission crossed the threshold and now need to submit vat return under the standard rated scheme. He is post office sub agent and getting commission from post office monthly basis and commission includes taxable and exempt ( £10k taxable and £5 k exempt Approx.). Client also selling some stationery and other things and we are considering under the std. rated. He has input vat on purchase ( such as greeting card, stationery , repair and maint. of post office and also some other expenses) so whether,
Should I claim full input vat or need to calculate under the Partially exempt VAT scheme?
Thanks,
Tushar
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