[F1 PART VIIA U.K.FLAT-RATE SCHEME FOR SMALL BUSINESSES

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

Method of accounting U.K.

55D.   Subject to [F2 regulations 55J and 55JA] below, for any prescribed accounting period of a flat-rate trader, the output tax due from him in respect of his relevant supplies shall be deemed to be the appropriate percentage of his relevant turnover for that period.]

Textual Amendments

F2 Words in reg. 55D substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Value Added Tax (Amendment) (No. 2) Regulations 2003 (S.I. 2003/1069), regs. 1(1), 5(2)