# The Value Added Tax Regulations 1995, Regulation 55G: Determining relevant turnover


(1) The Commissioners shall prescribe, in a notice published by them, three methods to determine when supplies are to be treated as taking place for the purpose of ascertaining the relevant turnover of a flat-rate trader for a particular period, as follows—
(a) “the basic turnover method”, which shall be a method based on consideration for supplies taking place in a period;
(b) “the cash turnover method”, which shall be a method based on the actual consideration received in a period;
(c) “the retailer’s turnover method”, which shall be a method based on the daily gross takings of a retailer.
(2) When exercising their power to prescribe these methods, the Commissioners shall prescribe what rules are to apply when a flat-rate trader ceases to use one of the methods and begins to use a different method.
(3) In any prescribed accounting period, a flat-rate trader must use one of the methods to determine the value of his relevant turnover.

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Source: https://www.legislation.gov.uk/uksi/1995/2518/regulation/55G (the official version)
Page: https://openlegislation.uk/value-added-tax-regulations-1995/regulation-55G
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.