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Post Info TOPIC: Deregistration turnover
Silly Digits


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Deregistration turnover
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Having a blank moment.  When working out the turnover to date to see if can deregister for VAT, do I use the net sales figure?

If in the next 12 months the turnover is going to be less, can anything be done?  already over VAT limit to date.

 

Thank you

 

 

 



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MarkS


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Yes use the net sales figure

Current VAT deregistration level is £77k.

If you think in the next 12 months the taxable turnover will be below £77k, the deregistration level, then you can apply to deregister now giving the reasons for the fall to HMRC.

Need to complete a VAT 7.

Mark

 



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
Silly Digits


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Date:
Permalink Closed

Hi Mark

That's a great help. Thanks for your reply

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