Lower VAT threshold would hurt businesses

Book a Free Consultation
Or call us on 01604 660661

 Lower VAT threshold would hurt SME output

The FSB has warned that lowering the VAT threshold would hit business output, by forcing small firms to take on a greater administrative burden. The FSB found that for 43% of firms, calculating the amount of VAT owed is the most time-consuming part of complying with the system. A report by the OTS estimates that cutting the threshold to £25,000 could yield up to £2bn in extra VAT receipts, but would drag 1.5m small traders into the system.

Source:  Daily Mail (18/11/2017)   

Follow Us