To ask the Secretary of State for Business, Innovation and Skills, what estimate his Department has made of the number of small businesses that will begin to operate over the VAT threshold as a result of complying with the new minimum wage.
Answered on
14 September 2015
The Department has not made an assessment of the interaction between VAT thresholds and the minimum wage.
Businesses are only required to register for VAT when the total value of their taxable supplies of goods and services in the preceding 12 months exceeds the current VAT registration threshold, which was increased to £82,000 with effect from 1 April 2015.
Answered by
Department for Business, Innovation and Skills