JohnLiquid01269
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I've been told I'm no longer eligible for the Flat Rate Scheme and must Leave?
Hi, I have received a letter from HMRC and been told I have gone over my £230,000 vat threshold and therefore must leave right away unless I will earn less than £191,500 in the next 12 months where hmrc may then allow me to stay if I can prove it. My issue here is, I have sold 3 separate Plant and Machinery Assets which I believe should not account towards the flatrate threshold calculations and if I'm correct, then I'm not over the threshold. I'm well below the threshold infact. So am I correct in saying I should still be able to be apart of the Flat rate scheme as the sale of the assets should not be included in that turnover calculation for the total vat threshold and therefore need to write to HMRC noting this situation? Thanks