Hello, I became VAT registered on 20/11/24 but I would like to cancel my VAT registration due to reduced turnover from increased competition. I do not anticipate it to rise above it with the next 12 Months. My business involves Selling repaired iphones on ebay so I have equipment and stock still. I am due to submit my first VAT by the 31st March under the Margin Scheme. I still intend to trade online. All of my equipment was purchased prior to registration and have not claimed VAT on them. My remaining stock I also have not claimed VAT on. Do I put a value of 'nil' under the questions asking for the Value of my remaining capital assets and stock in the VAT cancellation form? Thanks