HMRC has written to all traders who are registered to use the flat rate scheme, warning them about the 16.5% flat rate, but the wording may confuse both taxpayers and advisers.
To find out more, please visit the link below:
http://www.accountingweb.co.uk/tax/business-tax/vat-flat-rate-scheme-letters-may-confuse-taxpayers
Our previous article on the change to the VAT flat rate scheme is available here: