F2PART VIIAFLAT-RATE SCHEME FOR SMALL BUSINESSES

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Amendments (Textual)

Flat-rate scheme for small businesses55B

1

The Commissioners may, subject to the requirements of this Part, authorise a taxable person to account for and pay VAT in respect of his relevant supplies in accordance with the scheme with effect from—

a

the beginning of his next prescribed accounting period after the date on which the Commissioners are notified F1... of his desire to be so authorised, or

b

such earlier or later date as may be agreed between him and the Commissioners.

2

The date with effect from which a person is so authorised shall be known as his start date.

3

The Commissioners may refuse to so authorise a person if they consider it is necessary for the protection of the revenue that he is not so authorised.

4

A flat-rate trader shall continue to account for VAT in accordance with the scheme until his end date.