UK flat-rate scheme

Businesses using the VAT Flat-Rate scheme will be required, as of 1 April 2017, to determine, in each VAT Return, if they meet the definition of “limited cost trader” in order to benefit from a 16.5% flat rate. VAT returns overlapping 1 April 2017 will still need to include these tests, however including only the post-1 April part of the VAT return period.