[26B Flat-rate scheme]
Value Added Tax Act 1994 (1994 c 23) | Legislation

[26B  Flat-rate scheme]

[(1)     The Commissioners may by regulations make provision under which, where a taxable person so elects, the amount of his liability to VAT in respect of his relevant supplies in any prescribed accounting period shall be the appropriate percentage of his relevant turnover for that period.

A person whose liability to VAT is to any extent determined as mentioned above is referred to in this section as participating in the flat-rate scheme.

(2)     For the purposes of this section—

(a)     a person's “relevant supplies” are all supplies made by him except supplies made at such times or of such descriptions as may be specified in the regulations;

(b)     the “appropriate percentage” is the percentage so specified for the category of business carried on by the person in question;

(c)     a person's “relevant turnover”

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