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