This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Leaving the Flat Rate Scheme

Phil Moran
Posts:1
Joined:Wed May 03, 2017 11:01 am
Leaving the Flat Rate Scheme

Postby Phil Moran » Wed May 03, 2017 11:05 am

I want to withdraw from the flat rate scheme. Can anybody advise if I can specify a date ie 30/04/17 as this is the end of my VAT quarter

les35
Posts:635
Joined:Wed Aug 06, 2008 3:09 pm

Re: Leaving the Flat Rate Scheme

Postby les35 » Thu May 04, 2017 2:31 pm

Notice 733, para 12.1 - you can leave at any time.

bigbangman
Posts:9
Joined:Fri Dec 11, 2015 2:38 pm

Re: Leaving the Flat Rate Scheme

Postby bigbangman » Thu Jun 15, 2017 10:25 am

Hi,

Quick question please.

I left the FRS as it was no longer worth it as caught as a LCT.

I notified HMRC by letter and email that I would leave on 31st May 2017 and go to quarterly Standard VAT.

I've not heard anything from them, should I get an acknowledgement, letter, or some form of confirmation that I am now on Standard VAT, or just assume I am and fill out the return accordingly reclaiming VAT as applicable.

Many thanks

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Leaving the Flat Rate Scheme

Postby robbob » Fri Jun 16, 2017 9:03 am

should I get an acknowledgement, letter, or some form of confirmation that I am now on Standard VAT,
Yes you will get a letter confirming "confirmed leave date", this may take some time though.

bigbangman
Posts:9
Joined:Fri Dec 11, 2015 2:38 pm

Re: Leaving the Flat Rate Scheme

Postby bigbangman » Fri Jun 16, 2017 12:44 pm

Many thanks, I won't hold my breathe waiting!!


Return to “VAT & Excise Duties”