Neil has followed up on his article last week on problems with the VAT Flat Rate Scheme with a study on the impact of the scheme on those selling assets, including premises and business cars.
My previous Accounting Web article on the potential problems of the flat rate scheme (FRS) considered buy-to-let income. This article moves things on a stage further and looks at the situation when the asset that has produced that source of income (flat, house, bungalow etc) is sold.
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