At NiS Accountants, we’re often asked whether joining the Flat Rate VAT Scheme (FLEC VAT) is the right choice. The answer? It depends — and many businesses are surprised to find that it may not be as beneficial as it first appears.
What is FLEC VAT?
The Flat Rate VAT Scheme is designed to simplify…
With major changes to the way self-employed individuals and landlords report their income just around the corner, new research has revealed a worrying trend: nearly half of UK sole traders feel unprepared for Making Tax Digital (MTD) for Income Tax.
According to a recent study conducted by IRIS Software, almost one in three sole traders…
