Flat-rate scheme for small businesses7
1
In regulation 55L(1)(a) (admission to the scheme)—
a
in paragraph (i) (value of taxable supplies), for “£100,000” substitute “£150,000”; and
b
in paragraph (ii) (total value of income), for “£125,000” substitute “£187,500”.
2
In regulation 55M (withdrawal from the scheme)—
a
in sub-paragraphs (a) and (b) of paragraph (1) (total value of income), for “£150,000” substitute “£225,000”; and
b
in paragraph (2) (total value of income), for “£125,000” substitute “£187,500”.