Commentary

V2.197 Flat-rate scheme for farmers—VAT records

Part V2 Registration – deregistration

V2.197 Flat-rate scheme for farmers—VAT records

V2.197 Flat-rate scheme for farmers—VAT records

Regulations may impose obligations on flat-rate farmers in connection with the keeping, preservation and production of records1. Flat-rate farmers must keep and preserve their business and accounting records and copies of all invoices that include the flat-rate addition issued by them2. They must also comply with any additional requirements of HMRC for the keeping, preservation and production of records3. Such records must be retained for six years or any lesser period that HMRC allows4. On request flat-rate farmers must produce their records for inspection at their principal place of business and allow their removal

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