Content
Leading article...
We can't go on like this...
General tax...
The name is Bond
Blessed are the givers
Excuses, excuses
PAYE the penalty
Silver and gold
Moving goalposts
Doctor, doctor...
Something phishy
Pension problems
Tax dot com
Unpleasant discoveries
Fair's fair (at last)
Chartered taxpayers
This year, next year
VAT...
Focus your mind
Flat rates aren't flat
Reverse the charges
Flapjack flash
Ready set ECSL
A lofty idea
Law items...
I want my lawyer
Not on my holiday
A grey area
No difference
| If you use the VAT Flat Rate Scheme, the VAT you paid during 2009 should have been less than it was in 2008 - the flat rates changed when the standard rate was cut to 15%, although they didn't all drop by the same amount. Now the standard rate has gone back up, so have the flat rates - but not always to the place they were before. It's important to make sure that you are using the right rate, and that you deal with the change of rate correctly - if you collect debtors in January and February who were charged 15% VAT in November and December, you should use the 2009 flat rate in working out what you pay to HMRC. The FRS is supposed to be simple. If you are finding the change of rates anything but, we can help. |
© Bayar Hughes & Co., 2010.