Changes to the Flat Rate VAT Scheme (FRS) on 1st April

[QFMathew]

Hi @George_H

As you rightfully say, QuickFile only supports one rate per period at the moment, so when it comes to submitting the return, it will need to be manually adjusted to account for the rate change.

Changing the rate on QuickFile half way through a VAT period would change it for the whole period.

One thing that may be of interest, there was a post on the forums from another user who mentioned that HMRC may authorise use of the flat rate scheme for a longer period. I don’t have any details other than the ones in their post (linked below), but it may be worth checking that out with HMRC which could help save a bit of a headache

Leaving FRVS

Thank you for your reply Matthew (?), I managed to get through to HMRC helpline at last and they say: As an example, in my case my current VAT accounting period runs from Feb to end of April. The new FRVS criteria (limited costs trader rules) starts beginning of April. I should write to tell them of my intention to move out of the FRVS, if accepted they write back giving me authority to use FRVS (in my case at 11%) until end of April. That’s it, a shame but quite straight forward in practice.