Deregistration may be mandatory or voluntary depending on circumstances. Although it may be attractive for certain businesses too deregister if possible, this is not always the case. The main reason to remain registered is to recover input tax on purchases made by a business. This is particularly relevant if that business’ sales are:
- to other VAT registered businesses which can recover any VAT charged
- supplies are UK VAT free (eg; zero rated)
- made to recipients outside the UK
Source Deeksvat
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