VAT standard rate scheme to Flat rate scheme

VAT standard rate scheme to Flat rate scheme

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My client's Ltd company year end  (31/03/15) accounts showed £187K turnover. Registered for VAT since 01/05/15 ( no specific scheme selected).

No VAT returns submitted yet.

Client now thinks the company turnover for y/e 31/03/16 will be less than £150K.

Can the company use the Flat Rate Scheme  from 01/05/15 ?

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By cparker87
03rd Jun 2015 18:40

Isn't registration late?

Not sure on your flat rate query. However, is the registration date of 01/05/2015 not far too late? From £187k turnover over 12 months the client clearly exceeded the threshold long before the year end. 

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By User deleted
03rd Jun 2015 19:19

Certainly looks late

It's possible that it's not, but on the balance of probability ...

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Replying to lionofludesch:
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By WESTA
05th Jun 2015 14:13

Many thanks Basil.

Could not be any more clearer!!

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