….Are you aware of the changes? The VAT Flat Rate Scheme simplifies businesses’ record keeping, and makes it easy to work out the VAT they have to pay. However as of 1st April 2017 the scheme changed, as announced by the Chancellor in his Autumn Statement last year. So, how does it work? Normally a
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All about the VAT Flat Rate Scheme The VAT Flat Rate scheme was introduced in 2012 and it can be used by sole traders, partnerships and limited companies if they satisfy HMRC requirements. Unlike the standard VAT accounting , where you have to pay VAT on the basis of the difference between purchases and sales
