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Chancellor to simplify VAT with flat rate

Chancellor of the Exchequer Gordon Brown has announced a new flat rate and simplified scheme for payment of VAT. Brown says the changes, which will come in from April, will cut form filling.

Brown says: “There is a strong case for cash help for small firms to bring their payroll and tax systems online.”

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Most people like a small flutter such as backing a horse in the Grand National. If they win, great. If not, it does not really matter, the stakes involved are not high and it is unlikely to make a big difference to their lives.Each year, however, millions of households take a much bigger gamble and […]

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