I'm hoping someone out there can help clarify the situation below....
I will have one day (28-Nov) as part of my next invoice that falls before the 01-Dec VAT rate change date. My understanding of the rules surrounding the change is that this will be subject to the new 15% rate.
My question is whether the amended Flat Rate Scheme percentage should be applied to this one day or is this one day still liable for the old FRS percentage as it falls before 01-Dec - the date stated by HMRC as being when the FRS rate comes into effect??
Any guidance would be much appreciated.
I will have one day (28-Nov) as part of my next invoice that falls before the 01-Dec VAT rate change date. My understanding of the rules surrounding the change is that this will be subject to the new 15% rate.
My question is whether the amended Flat Rate Scheme percentage should be applied to this one day or is this one day still liable for the old FRS percentage as it falls before 01-Dec - the date stated by HMRC as being when the FRS rate comes into effect??
Any guidance would be much appreciated.
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