I have a client who is on flat rate VAT. They are well over the turnover threshold for the year ending 31st December so need to come off.
They were registered for VAT & the FR on the 1st January
On the turnover test is says under 12.2
That you must leave "the end of the VAT period containing your anniversary"
I took the anniversary to be, 1st Jan, so the period contained this would be 1st Jan to 31st March, therefore the period ending would be 31st March, ie to start normal accounting from 1st April.
Client however has had a letter telling them to come off the flat rate scheme from 1st Jan.
Is there some further guidance which specifies what they mean by the Anniversary date? In the example given here for the annual accounting scheme, it seems the date is the day of joining and not the preceding day:
So in conclusion am I right the client can should they chose to - remain on the FR until 31st March despite the notice from HMRC?