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Article Index
A Guide to VAT for Start-up Businesses
How VAT Works
What is VAT Charged On?
Should You Register?
Charging Customers VAT
VAT Invoices
VAT Returns
VAT Accounting Schemes
Out of the Ordinary

A Guide to VAT for Start-up Businesses

When can you de-register from VAT?

If your business’ VAT taxable turnover for the year is less than or equal to £79,000, or if you expect it to fall to £79,000 or less in the next 12 months, you can cancel your VAT registration.

De-registration involves completion of a final VAT return and you must inform HMRC and explain why your turnover has fallen – for instance if you have reduced your staff numbers, or changed contract hours.

You should also contact HMRC to deregister from VAT if you sell or liquidate your business.

Labels: Tax