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The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> VAT Impact on Deregistration
Post Info TOPIC: VAT Impact on Deregistration
Wendy


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VAT Impact on Deregistration
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I have a client who is currently VAT registered, but is about to stop trading. They plan to keep a small amount of stock and some fixtures for personal use.

My question is will they have to pay any VAT on these if they keep them?

Thanks.

Wendy

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Accountsguy


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Hi Wendy

If the VAT on your clients stock and fixtures exceeds £1,000 (at their market value), they will need to account for the VAT on their final VAT return. If it's below £1,000, then your clients will not have to pay over any VAT.

All the best

Guy

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Wendy


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Date:
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Thanks for your help Guy!

Wendy

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