- Joined
- Jul 28, 2022
- Messages
- 1
- Reaction score
- 0
- Country
I have a client (a Pub) on the Flat Rate scheme for VAT. I recently went to the HMRC website to check when the concessionary rate for VAT changed back 6.5%. The HMRC site - VAT Flat Rate Scheme : Work out your flat rate - GOV.UK (www.gov.uk)
shows a flat rate of 1% since April 2022 - Did I miss this in the budget..? Does this mean that new businesses that are eligible to the 1% reduction are then technically exempt for their first year (or part of it).
shows a flat rate of 1% since April 2022 - Did I miss this in the budget..? Does this mean that new businesses that are eligible to the 1% reduction are then technically exempt for their first year (or part of it).