The government has another tax change made under the radar, they have hit most business that use the flat rate. From 1/4/2017 to work out their vat are all going to need to use 16.5%. There are lots of measures taken to ensure that low cost traders cannot get out of this to continue to use the rate they had become so familiar with.
Low cost traders, thats hmrc speak to mean any service based business/person using the flat rate.
Not in the budget speech but its going to be law and it will catch a lot of business out there, what did hmrc say about this, they said they will be writing to every business effected.
Hope you got the letter, i still have not got mine, must be stuck in the post. Would they post such an important letter first class, i have a horrible feeling it will be sent second class. If you are on email then i am sure you will have been sent an email instead of post. Do HMRC have your correct email and postal address, i am sure you have taken measures to update them of any changes, that was top of the to do list!
Almost forgot the pitch, if you need help with this then let me know.
