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Where Taxpayers and Advisers Meet

Can I rejoin Flat VAT Rate scheme

skray
Posts:58
Joined:Mon Oct 29, 2012 5:01 pm
Can I rejoin Flat VAT Rate scheme

Postby skray » Thu Sep 05, 2013 5:46 am

I operate a personal services company. I temporarily ceased trading last year and deregistered for VAT in Dec12. I used to be a member of the Flat Vat Rate scheme.
I have resumed trading again and considering applying for a new VAT number. Can I rejoin the Flat Vat Rate scheme now or the 12m waiting period applies?
Thanks

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

Re: Can I rejoin Flat VAT Rate scheme

Postby les35 » Thu Sep 05, 2013 9:30 am

You cannot rejoin the FRS within 12 months of ceasing to use it. The fact that you have deregistered is not relevant.
Refs - Reg 55L(c)(iv), and Notice 733, para 3.6.
(But, thought-provoking question, nevertheless!)

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

Re: Can I rejoin Flat VAT Rate scheme

Postby robbob » Thu Sep 05, 2013 9:34 am

If nothing else this gives you the chance for a canny bit of tax planning :)


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