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Regulation 7 Flat-rate scheme for small businesses

Original text. Later amendments are not shown.

(1)

In regulation 55L(1)(a) (admission to the scheme)—

(a)

in paragraph (i) (value of taxable supplies), for “£100,000” substitute “£150,000”; and

(b)

in paragraph (ii) (total value of income), for “£125,000” substitute “£187,500”.

(2)

In regulation 55M (withdrawal from the scheme)—

(a)

in sub-paragraphs (a) and (b) of paragraph (1) (total value of income), for “£150,000” substitute “£225,000”; and

(b)

in paragraph (2) (total value of income), for “£125,000” substitute “£187,500”.