Has anyone any experience of a client registering, and deregistering, within days.
A new client started work as a freelance courier and registered for VAT after a couple of months. The work wasn't profitable, so he continued looking for employment. He expected this to take a few months, but he managed to find a job days after registering for VAT.
He bought a van (prior to registration) and we intended reclaiming the VAT, but he has now deregistered as self-employment has ceased. The VAT reclaim on the van is below the threshhold for VAT to be repaid on deregistration. His first VAT Return is also his final return. Are HMRC likely to refuse the VAT reclaim on the van?
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