VAT flat rate restricted

by Aspiring Training on February 22, 2017 No comments

The VAT flat rate scheme (FRS) allows small businesses to simplify their VAT records and, in many cases, keep a portion of the VAT they collect on behalf of the Government.

HMRC are changing the rules because of abuse of the VAT flat rate scheme. From 1 April 2017, it will be more difficult to make any money out of FRS.

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Aspiring TrainingVAT flat rate restricted