Flat Rate Scheme - this might be my final word!

Les Howard
VAT Consultant
vatadvice.org
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There has been a lot of comment about the changes to the VAT Flat Rate Scheme. In some cases, traders joined the scheme because they could make money on it. Others joined because their Accountants told them they could make money!

No wonder the Chancellor decided to restrict it. It was always a simplification scheme, not a way to earn money.

So, with two weeks to go to the changes taking effect, do your arithmetic. Leave the Scheme, if you wish. Deregister for VAT if you can. And, make a note what you are doing and why, just in case HMRC come knocking!

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By NH
23rd Mar 2017 22:03

And yet it took how many years for the chancellor to restrict the scheme?

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