VAT flat rate 1% uplift on second year of trading

[brewingcalm]

Continuing the discussion from Flat Rate change for vat:

@Glenn

Yes that is correct, no previous VAT returns will be affected. It will only affect how VAT is calculated on new VAT returns.

Hi,

When I change the % of my flat rate after the first year of trading - do I put the VAT filing date as the effective date of the new change? My concern is that it might wipe the existing entries that I have made at the lower rate?

Many thanks

[Glenn]

Nothing will get wiped when you change the flat rate percentage. I will just apply the new rate to the calculate flat rate turnover for the next period you file.