New VAT Flat Rates From 4th Jan 2011

16 December 2010

As well as the standard rate of VAT increasing to 20% as from the 4th January 2011, there will be changes to the flat rates across all business sectors.

HMRC have taken the opportunity of the VAT rate change to review the flat rates applicable across all business sectors.

The latest rates which are effective from the 4th January 2011 can be found on the HMRC website here

First Year Reduction

The reduction of 1% for the first year of registration still applies.