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

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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

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.

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