The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
It is possible for farmers to elect to use the agricultural flat rate scheme rather than VAT register in the normal way. This guidance note provides an overview of the scheme and how it operates.
Farmers who elect to use the scheme are not required to submit a VAT return to HMRC or account for any VAT due on supplies made. Farmers using the scheme charge and retain a flat rate of 4% on the sale of goods and services. Farmers using the scheme cannot recover VAT incurred on costs associated with their business activities.
Further information on the VAT treatment of farming activities can be found in the Farming and other rural activities guidance note.
In order to join the scheme a farmer must meet the following requirements:
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