HMRC targeting businesses using Flat Rate Scheme

On 1st January 2010, when VAT reverted to 17.5%, not all Flat Rate Scheme (FRS) categories returned to their original levels. We are aware that HMRC have been selecting companies using this Scheme as a potential source of errors.  It may well be that HMRC will make similar checks following the increase in VAT to 20% on 4th January 2011 and so we have published the new rates, the key issues to be considered at the time of the increase, as well a brief summary of the anti-forestalling legislation. 

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