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Generally speaking I always consider whether the VAT flat-rate scheme (FRS) would be suitable for our clients for the ease of administration and potential VAT savings that might arise. I have recently set up a client on the FRS under the “management consultancy” heading.
The actual nature of his business is counter-terrorism crisis response and risk management consultancy.
The choice of sector may seem odd but this seemed to be in accordance with HMRC’s advice in VAT Notice 733 that “if you act as a consultant and you do not fit into another specific sector you should choose management consultancy. This sector is not restricted to businesses that fit the traditional idea of management consultant.”
However I have recently attended a VAT course and was advised that if a client did not fit into the flat rate management consultancy category (a flat rate of 14%)...
