Businesses evolve and change over time, so it may sometimes be necessary to de-register your VAT. If your business stops trading or no longer deals with VAT taxable items, then cancelling your VAT registration is a requirement.
When should I tell HMRC to cancel my VAT registration?
You must tell HMRC that you need to de-register for VAT within 30 days of becoming ineligible. HMRC are just as strict about de-registering for VAT as they are about registration! Failing to comply with the 30 day VAT de-registration deadline might result in a penalty.
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About The Author
I'm an experienced and fully AAT and ACCA qualified accountant, who is enthusiastic about helping business owners succeed. I also love cooking and needlepoint (at different times!). Learn more about Beth.