Deregistering for VAT
A compulsory VAT deregistration is usually required if you:
- Stop making taxable supplies
- Sell your business
- Change legal status
- Disband a VAT group
- Join a VAT group
- Join the agricultural flat rate scheme
A voluntary VAT deregistration can be made if you do not expect your taxable turnover to exceed the VAT deregistration limit. The current deregistration limit is £83,000.
You will be required to submit a final VAT Return for the period up to and including the VAT deregistration date.
You must account for any stock and other assets you have on this date if:
- you could reclaim VAT when you bought them,
- the total VAT due on these assets is over £1,000.
You can also make late claims for input tax on invoices received relating to the period that you held a VAT registration. This can be done after the final VAT return has been submitted (subject to the usual VAT time limits).
Latest News
- Childcare Account chores
25/04/2024 - More...
HMRC’s Childcare account can be used to claim free childcare (if eligible) or pay for Tax-Free Childcare. HMRC’s sign in
- Do’s and don’ts for Standard Visitors to the UK
25/04/2024 - More...
There is useful guidance published on GOV.UK that explains the do’s and don’ts for Standard Visitors to the UK. Visitors
- Bikes for employees
25/04/2024 - More...
The Cycle to Work scheme allows employers to provide bicycles and cyclists’ safety equipment to employees as a tax-free
Newsletter
With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!