The Value Added Tax Regulations 1995 No. 2518

[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 55H and 55JB] 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 (1.1.2004) by The Value Added Tax (Amendment) (No. 6) Regulations 2003 (S.I. 2003/3220), regs. 1(1)(b), 18(2)