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Hello.....my first time on here,,,I have a client who voluntarily registered for vat in 2014 ,,,he has never achieved a turnover of over £40k in the past 6 years and will not ever do so in the future as he is winding down prior to retirement
He wants to de register as he does now want to submit ynder MTD VAT rules. I am concerned that he purchased a van in 2017 and claimed input vat on it of £3800. The van is worth £5000 max today...
If he deregisteres this month will he be required to pay back thr VAN VAT?? He has no stock.
Your advice woulkd be appreciated as try as I might I cannot understand the VAT rules regarding this matter
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