VAT Scheme CompareFarm 67

VAT Scheme Compare · HMRC guidance reviewed 6 August 2026

VAT quarter planner: turnover, relevant goods and records

Keep one evidence row for turnover, relevant goods, selected rate and tax due for every accounting period.

Decision boundary

HMRC requires a record of Flat Rate turnover, percentage, tax due and relevant-goods spend. Limited-cost status can change between periods.

Evidence to check

VAT-inclusive period turnover
Relevant-goods total and evidence
Rate and first-year adjustment
Calculated tax due and VAT account record

Compare this VAT period

Official source

HMRC VAT Notice 733: records and returns

General information only. HMRC decides scheme eligibility, rate and leaving dates.

Related guides

VAT Flat Rate calculator: use VAT-inclusive turnoverApply the selected HMRC rate to VAT-inclusive turnover and keep standard-accounting inputs separate.Limited cost business test: 2% and £1,000 rulesTest relevant goods against both HMRC limits for each VAT return period instead of self-classifying once.Flat Rate vs standard VAT: compare the same periodCompare cash paid to HMRC without treating the lower estimate as proof that a scheme is suitable or available.

Get the VAT Flat Rate period checklist after confirming your email.