The Value Added Tax Regulations 1995

[F1 Notification U.K.

55N.— [F2 (1) [F3 Subject to paragraph (1A), where—]

(a) at the first day of the prescribed accounting period current at any anniversary of his start date,

(b) the appropriate percentage to be applied by a flat-rate trader in accordance with regulation 55H(2)(a) for the prescribed accounting period just beginning differs from that applicable to his relevant turnover at the end of the previous prescribed accounting period,

he must notify the Commissioners of that fact within 30 days of the first day of the prescribed accounting period current at the anniversary of his start date.

[F4 (1A) Paragraph (1) shall not apply where a difference in the appropriate percentage arises only because of the application of regulation 55KA.]

(2) Where a flat-rate trader begins to carry on a new business activity or ceases to carry on an existing business activity, he must notify the Commissioners of—

(a) that fact,

(b) the date that is the relevant date described by regulation 55A(3)(c) or (d) (as the case may be), and

(c) the appropriate percentage to be applied to the period immediately before that relevant date and immediately after it,

within 30 days of that relevant date.]

(3) Where any of sub-paragraphs (a) to (g) of regulation 55M(1) apply, the flat-rate trader shall notify the Commissioners of that fact within 30 days.

(4) Any notification required by this regulation shall be given in writing.]

Textual Amendments

F1 Pt. 7A inserted (25.4.2002) by The Value Added Tax (Amendment) (No. 2) Regulations 2002 (S.I. 2002/1142), regs. 1(2), 7

F2 Reg. 55N(1)(2) substituted (1.1.2004) by The Value Added Tax (Amendment) (No. 6) Regulations 2003 (S.I. 2003/3220), regs. 1(1)(b), 18(4)

F3 Words in reg. 55N(1) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Value Added Tax (Amendment) Regulations 2017 (S.I. 2017/295), regs. 1(1), 8(a)

F4 Reg. 55N(1A) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Value Added Tax (Amendment) Regulations 2017 (S.I. 2017/295), regs. 1(1), 8(b)