Deregistering for VAT
Dec 17 2007
If your stock is £3,500 at the date of deregistration you should include that figure in box 7. It will not reduce your final liability.
The 'less than £1000 no vat is payable' provision is intended to exempt from the need to pay additional VAT on stocks if the VAT on the stock at deregistration exceeds the figure of £1,000. In your case the VAT on £3,500 is £612 and as this is below £1,000 there will not be any additional liability.