[F1Method of accountingU.K.
55D. Subject to [F2regulations [F355H, 55JB and 55KA]] 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
F1Pt. 7A inserted (25.4.2002) by The Value Added Tax (Amendment) (No. 2) Regulations 2002 (S.I. 2002/1142), regs. 1(2), 7
F2Words 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)
F3Words in reg. 55D 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), 4