Deregistration of VAT

[flck72]

Hello

Just wanted to be aware of any pitfalls of deregistering for VAT if anyone can highlight any?

Registered and joined the flatrate scheme for vat over a year ago when it seemed appropriate for my company; now home circumstances have changed and I no longer expect the company to be receiving any where near the threshold I would like to deregister, any thoughts on this?

Thanks in advance.
BTW
I'm aware of the form VAT7 form
http://search2.hmrc.gov.uk/kbroker/hmrc/forms/viewform.jsp?formId=999
and guide on change
http://www.hmrc.gov.uk/vat/managing/change/change.htm
;)

[elainec100@cheapaccounting]

The flat rate scheme is easy to administer and there is a slight benefit to registration if your expenses are low.

So you may want to keep with it - things may change again in the future?

If you decide to dereg and have no stock etc - then easy to do as you say you are already aware of this.