The most notable announcement in the Autumn Statement was the introduction of a new VAT Flat Rate of 16.5% for businesses with limited costs. This is a link to the new rules

https://www.gov.uk/government/publications/tackling-aggressive-abuse-of-the-vat-flat-rate-scheme-technical-note/tackling-aggressive-abuse-of-the-vat-flat-rate-scheme-technical-note

If a business is using the Flat rate scheme and the purchases of goods (not services) is less than 2% of annual turnover then it must use the new 16.5% flat rate. Options for businesses that this affects are

  1. Deregister from VAT (if sales are less than £83,000 p.a.)
  2. Leave the Flat Rate Scheme and account for VAT on a normal basis.