Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

24 hours

13 May 2014 / Neil Warren
Issue: 4451 / Categories: Comment & Analysis , flat-rate scheme , VAT

A legislative oddity extends the VAT flat rate scheme membership by three months


  • Some confusion over when use of the flat rate scheme must end.
  • Annual turnover must be checked at the end of each 12-month period to ensure the exit threshold has not been exceeded.
  • Determining the exact “leaving date”.
  • The importance of the phrase “relevant anniversary”

In a recent article I gave some tips on delaying the departure date from the flat rate scheme (FRS) for as long as possible an important issue in view of the very worthwhile tax savings of the scheme.

But little did I know that the interpretation of the legislation considered by myself and HMRC in many cases was incorrect as far as the exact leaving date is concerned … until two readers contacted me after the article was published. All will...

Only subscribers may read the full article

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
back to top icon