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 ?
Replies (3)
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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.