Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential merits of calculating VAT payable only from a turnover of £85,001 and above.
The Government consulted in 2018 on how the design of the VAT registration threshold, currently set at £85,000, could incentivise growth better.
The results of the call for evidence did not present a clear option for reform.
While there are no plans to make changes to the design of the VAT threshold, the Government continues to keep all taxes under review.
Details of the call for evidence are available online: https://www.gov.uk/government/consultations/vat-registration-threshold-call-for-evidence.