Simon Newman
Joined: 7/11/2021
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Leaving the flat rate scheme
I have sold over the 230k limit and received a letter from HMRC saying I have been removed from the scheme It says I need to do so, at the end of this period Does that basically mean at the end of my current VAT reporting period? I.e my current period is from 1st Jan to end of March I got the letter around 20th jan Does that mean I stay on flat rate until end of March? Or does it mean the end of the VAT year, which for me in November 2023 -
How to pay BIK
I have a PAYE job which is full time I also have a side business which is a LTD company If I buy a company car via the LTD, how would I physically go about paying for the BIK? Would it be via a self assessment form? Would I be able to keep this completely separate from my PAYE job Thanks