Changing VAT schemes - Flat Rate - Invoice Based to Standard VAT - UK only

Under certain circumstances you may want to change from the Flat Rate - Invoice based scheme to the Standard VAT Scheme. The Flat Rate - Invoice based scheme and the Standard VAT Scheme in Sage Accounts function in a similar manner so only a small number of adjustments are required. You don't need to change your existing tax codes or set up new tax codes.

This procedure can be carried out anytime after you've reconciled your last VAT Return on Flat Rate - Invoice Based, but before you reconcile your first VAT Return on Standard VAT.

NOTE: You may not change to or from a Flat Rate VAT scheme without first obtaining the approval of HM Revenue & Customs (HMRC).If you're considering changing schemes, consult your local VAT office first.

Change to the Standard VAT scheme

1. Click Settings and click Company Preferences then click VAT.
2. Click the VAT scheme drop-down then click Standard VAT and click OK.

You've now successfully changed your VAT Scheme to Standard VAT.