New to standard rate VAT?

Introduction Since the new legislation on flat rate VAT came in in April thousands of small businesses have been forced into making the change over to standard rate VAT.  It’s clear that the added administration and complexity is putting extra pressure on small business directors so we created this guide to help you when deciding… Read more »

Changes to MTD

What is MTD? Making Tax Digital (MTD) is the name of the government’s plan to ‘simplify’ the tax system and take advantage of technology in order to help people get their tax right and get information to HMRC more promptly. The initial plan was that all companies, self-employed people and landlords earning over £10k would… Read more »

Flat Rate VAT

Changes to the Flat Rate VAT scheme

Flat Rate VAT has been an asset to many small businesses by simplifying their administration and usually turning a small profit on the VAT charged to customers.  However, HMRC have decided that the scheme is being ‘aggressively abused’ and they’ve put their foot down to try to stop this abuse by bringing in new legislation… Read more »