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Posted: Sat Jul 22, 2017 2:12 pm
by Forestboy1978
Gonna sell some stuff. Does that mean I have to include VAT on the sale and pay that VAT back. Does anyone know?
Posted: Sat Jul 22, 2017 6:01 pm
by dig dug dan
If you sell before you de register, yes, otherwise no
Posted: Sat Jul 22, 2017 7:35 pm
by Forestboy1978
Ta
Posted: Mon Aug 14, 2017 1:15 pm
by rxbren
When you deregister won't you have to repay (dependant on value) vat on any kit that it was claimed off
Posted: Tue Aug 22, 2017 9:04 pm
by lemoncurd1702
If you sell before de-reg then you charge vat on the sale. If you keep or sell after de-reg the HMRC may want a percentage of the Vat relief you had, depending on how long ago you made the purchase.
"Just sell the items for cash and say F-all, they don't know what you have or don't have. That 5 year old mixer that got stolen, the wacker plate that got scrapped and the van you bought for £10k but had to sell for£1k cos the engine blew."
That's what a retiring old builder told me he was going to do before setting of for the sun.