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VAT De-registration

POSTED BY: Justina Janaviciene

15 June 18

HMRC has published an updated version of form VAT7 for cancelling a VAT registration. The old PDF version of the form has been replaced with a print and post iForm version.

A compulsory VAT deregistration is usually required where a VAT registered business:

  • Stops making taxable supplies
  • Sells a business
  • Changes legal status
  • Disbands a VAT group
  • Joins a VAT group
  • Joins the agricultural flat rate scheme

A voluntary deregistration usually relates to businesses that do not expect taxable turnover to exceed the deregistration limit. The VAT deregistration threshold is currently £83,000.

A business that deregisters is able to make late claims for input tax on services received whilst it was VAT registered (subject to the usual VAT time limits).


Inheritance tax planning

Lifetime transfers where estate of another individual is increased

Changes to lettings relief and other exemptions April 2020

Two changes to the way Private Residence Relief works are due to come into effect

VAT treatment of Vouchers

Single purpose vouchers now have a defined tax point