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Re-considering the VAT Flat Rate Scheme

You must have heard and/or read about the changes to the VAT flat rate scheme (FRS) effective 01 April 2017. To summarise, if your cost of sales is less than either 2% of your sales OR £1000 per year, your flat rate will be 16.5%. I won’t go into why this new directive was implemented but suffice it to say … Continue reading

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