Leaving VAT Flat Rate Scheme

VAT FRS

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Hi, please can anyone confirm that if you leave the FRS then you account for ALL 'Capital Assets' still held at point of deregistration (residual value.) There is no limit £1000 of VAT. It simply applies to everything still held, valued, then accounted for regards VAT. Thanks I have looked it up again at VAT Notice 733 but cant see any additional info and I have this nagging £1000 threshold - which is probably long gone and I have remembered it from years ago....

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