I am new to this Forum. I am a Pracricing Bookkeeper and have been for 14 yeras
I need help re Vat deregistration plesae
I have a client who volunrily registerted back in 2014
He has never achieved more than £60k sales and only £35k over the past 4 yeras.He is winding down and wants to deregister VAT BUT in 2017 he purchased a truck circaa £14k and claimed the input tax
My question is - if he deregisters for VAT will he be required to repay all or part of the input tax claimed?
He has no stock