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HMRC internal manual

VAT Flat Rate Scheme

From
HM Revenue & Customs
Updated
, see all updates

Recent changes to this guidance

Below are details of the amendments that were published on 11 January 2008 (see the update index for all updates)

Section Details of update
   
Overall This guidance was originally V1-23 Chapter 6. It has been reformatted to reflect the new house style for HMRC guidance. Operational matters have been removed so that greater emphasis is placed on the policy.
FRS3000 This section has been re-written to clarify the policy on dealing with requests for retrospective admission to the scheme.
FRS4000 This section has been re-written to clarify the policy on dealing with requests for retrospective withdrawal from the scheme.
FRS6500 This is a new section that outlines how VAT is reclaimed on capital expenditure goods.
FRS7000 This section is re-written to include details of the 1% reduction for businesses in the first year of registration. It also provides details of the flat rate percentages both current and historical.