Which one of the following statements regarding VAT is incorrect?

and describe why

1. Traders who are registered for VAT are required to charge (the appropriate) VAT on their sales.

2. To become VAT registered the trader must exceed the historic or future test thresholds.

3. VAT invoices should be used once registration number is received.

4. On deregistration VAT is chargeable on all stocks and capital assets in the business on which input tax was claimed.