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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4423
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I run my own plant hire business, I used to be self employed

Customer Question

I run my own plant hire business, I used to be self employed and only owned one machine which I drove, I have purchased a second machine and employed a driver my income is still below £240,000 am I still allowed to claim flat rate VAT
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.

Hello, I'm Keith and happy to help you with your question.

Here is the Gov UK advice premable on the subject of the UK Flat Rate VAT Scheme:

'To join the scheme your VAT turnover must be less than £150,000 (excluding VAT) and you must apply to HMRC'

From which I deduce from your question that with your turnover you are outside the scope of the Tfat Rate Scheme and must operate normal VAT procedures.

I am so sorry to have to rain on your parade.

bigduckontax and other Tax Specialists are ready to help you
Expert:  bigduckontax replied 2 years ago.
Thank you for your support.