This screen allows for the setting of flat rates for defined date ranges. Date ranges should never overlap. There should not normally be a gap between date ranges unless you have left and returned to the flat rate scheme in which case the gap should normally be at least one year.

If you start on the flat rate scheme within one year of registering for VAT you may be entitled to a discounted flat rate (normally 1% less) until the day before the first anniversary of your registration.

If your business changes and you move to a different flat rate classification simply set up different rates for the appropriate date ranges.

HMRC changes to the rates are handled by setting up rates and validity dates as required.

Enter or select the date from which the flat rate applies.

Enter or select the inclusive date until which the specified flat rate applies. Leave empty if the rate applies on an ongoing basis.

Enter the flat rate that applies to sales turnover for the specified date range.

e.g. 12.5 for twelve and a half percent.