My client went over the VAT threshold in June 2021 as she had three holiday cottages which were very popular with the trend for holidays in the UK during Covid. She registered from August but at the end of October she found a buyer for one of the cottages. I understand it was proving expensive to maintain and not cost-effective.

On the basis that with only two cottages her turnover would drop, she applied to deregister and HMRC accepted this and cancelled her registration from the end of November. She has now started upcycling and selling furniture and home accessories and has been stunned by the sums people are willing to pay for her pieces.