VAT: Small Businesses
(asked on 28th October 2016) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential merits of reducing the rate of VAT for small businesses.
This question was answered on 7th November 2016
At Budget 2016, the VAT registration threshold was increased so that businesses with a turnover of £83,000 and below do not have to register for VAT. This relieves many smaller businesses of the burdens associated with VAT.