Deregistering for VAT

28 August 2019

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).

Schedule a Free Consultation

For help with either phase, please schedule a telephone/video call appointment with us as soon as possible.