VAT7 form update — insolvency practitioner bulletin 1 (2025)
Published 14 March 2025
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What you need to know
We changed the way we issue VAT repayments to insolvency practitioners from Monday 10 March 2025.
The VAT7 form has been updated to include a section to input bank details. You must ensure you use the most recent version of the VAT7 which can be found at section 6.2 on Insolvency VAT Notice 700/56.
What we need you to know
When completing the form, select the option ‘The business has gone into liquidation’ at the question ‘Why are you applying to cancel your registration?’. This will ensure the questions relevant to insolvency are provided.
Further questions
If you have any questions about this insolvency bulletin, please direct them to R3 or your representative group who will take them forward with HMRC.