PM+M reports that a large proportion of North West SMEs are not prepared for major VAT Flat Rate Scheme changes
PM+M - the Blackburn headquartered chartered accountancy, business advisory and wealth management group - has seen a sharp rise in calls from North West businesses who don’t understand the upcoming changes to the Flat Rate Scheme which come into force on 1st April and is warning those affected to act quickly.
Changes are being introduced as HM Revenue & Customs believe there has been aggressive abuse of the Flat Rate Scheme over recent years so it is introducing a new rate of 16.5% for ‘limited cost traders’.
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