Schedule 4, paragraph 8(1)

Where a person ceases to be a taxable person, any goods then forming part of the assets of a business carried on by him shall be deemed to be supplied by him in the course or furtherance of his business immediately before he ceases to be a taxable person, unless— the business is transferred as a going concern to another taxable person; or the business is carried on by another person who, under regulations made under section 46(4), is treated as a taxable person; or the VAT on the deemed supply would not be more than £1,000.

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Source: legislation.gov.uk · retrieved 2026-07-28