Sign up for our FREE monthly newsletter

Don't miss out on amazing content

Part of our vision is to share our expert insight and knowledge to help business owners achieve success. Sign up today!

Client PortalXERO LoginClient Services Brochure
Download our Client Services Brochure

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).


Gift Hold Over Relief

Giving away an asset and concerned about Capital Gains Tax?

Parents with Benefits

Do you claim Child Benefit and earn more than £50,000?

Basic Income Tax Reliefs

​It’s the season to be planning!