Does anyone know about VAT?

[Thingsthatgo]

I work for a small business and our accountant is a bit rubbish. (We will be changing soon). We are moving from flat rate vat to standard rate because we now earn over the threshold.
I was doing a bit of reading, and it seems we can claim the vat back on any stock that we purchased during the flat rate scheme that we still have (and will be sold under standard rate). Is that correct? Our accountant hasn’t mentioned it, but it will make an enormous difference if it’s true.

Have a read of the VAT notice
https://www.gov.uk/guidance/flat-rate-scheme-for-small-businesses-vat-notice-733--2#leaving-the-scheme
Paras 12.8 and 12.9 give info on the stock adjustment and how to calculate it.
(I have never done this but used to work with other vat schemes).
Certainly looks like there might be an adjustment to be made.

Thank you - yes, that is what I read too. Thank you, I will have a chat with the accountant and see what she says. It will be really quite significant to us if we can. (Also, I will be a hero!)