My company has recently lost a contract since we registered for MTD and have made one VAT payment via the new system.
Losing the contract will result in the turnover being significantly less than £85K for 2019/20.
I have deregistered the company through the HMRC website, does this mean:
1 - We are deregistered from MTD only and VAT payments are still required through the previous method?
2 - We are deregistered from VAT entirely and no further payments are required?