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Closing business down what to do with stock?

Abouttime · 2014-03-09 22:13:05

Hi I'm closing down my online business. I want to close my business down on a certain date and also sign off for VAT on the same date. I have still stock left over so what happens to that VAT/tax wise? Also if I close my business on the 20th March, I still have stock left. Then maybe a couple of weeks/months down the line…

09-03-2014 10:13pm

#1

Abouttime

Registered Users, Registered Users 2 Posts: 29 ✭

Join Date: February 2010

Posts: 22

Hi

I'm closing down my online business. I want to close my business down on a certain date and also sign off for VAT on the same date. I have still stock left over so what happens to that VAT/tax wise? Also if I close my business on the 20th March, I still have stock left. Then maybe a couple of weeks/months down the line I sell the stock off on ebay/adverts. Now that I've signed off for VAT and closed down my business do I need to pay tax/VAT?

Thanks

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Comments

#2 10-03-2014 5:12pm

Mr. Incognito

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Are you self employed or is it from a company?

It would appear to be a self supply and you will have to repay any VAT claimed.

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