VAT Deregistration

A compulsory VAT deregistration is usually required where a VAT registered business: <ul> <li>stops making taxable supplies </li> <li>sells a business </li> <li>changes legal status </li> <li>disbands a VAT group </li> <li>joins a VAT group </li> <li>joins the agricultural flat rate scheme </li> </ul> In some circumstances it may be possible to keep the existing VAT registration number. A voluntary deregistration can be made by businesses that do not expect taxable their turnover to exceed the deregistration limit. The current deregistration limit is £83,000. A business that deregisters can make late claims for input tax on services received whilst it was VAT registered (subject to the usual VAT time limits). <span>The Form VAT 7: Application to Cancel your VAT Registration has been updated. To cancel a VAT registration the print and post iForm should be completed online, printed and then mailed to HMRC.</span>