VAT Question

Sam22Sam22 Feels At HomePosts: 117Registered
Can anyone help with this. If someone is currently on the flat rate vat scheme and want to leave, what is the process. I've read on HMRC website that you would need to contact HMRC upon leaving the scheme in writing and they will then write back confirming with the date you left the scheme. After this has been done, I'm assuming you are now required to follow standard 20% vat rules? Any guidance would be great, thank you

Comments

  • burgburg Experienced Mentor GloucesterPosts: 1,440Moderator, FMAAT, AAT Licensed Accountant
    Yes, you write to HMRC requesting to leave the scheme. You will then refer to the normal VAT rules with effect from the date they advise you of. I've even managed to request a backdated change before.
    Regards,

    Burg
  • Sam22Sam22 Feels At Home Posts: 117Registered
    Thank you for confirming that. That's brilliant.
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