anti-forestalling

VAT advisers at fee insurer Abbeytax have warned that companies within the Flat Rate Scheme are being picked up by HMRC over transitional rate errors.

3

We retail high end motor cars and have started to be asked the question by customers of saving the 2.5%, by giving us large deposits/prepayments prior to the vat increase in January 2011.

I am trying to calculate the relevant income for a couple of clients who have income around the £130,000 mark.