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A book consultant has a flat rate scheme registration dilemma.
Our client is a book consultant. She advises one UK publisher about potential topics that she believes would be good sellers in the market.
She also advises a Canadian publisher that is keen to develop a stronger footing in the UK.
Our client’s total income is about £70 000 a year with 90% of her income coming from the UK publisher.
We considered VAT registration about four years ago but decided that it was not worthwhile because she had minimal input tax to claim. Further from reading HMRC’s VAT Notice 733 it seemed that she would be considered to be a ‘management consultant’ so the flat rate scheme would not save her much tax because of the 14% rate that would apply.
However I now understand from reading Neil Warren’s recent article that HMRC has revised Notice 733 and would now accept that our client should use a rate of...
