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Small Businesses: VAT

Question for HM Treasury

UIN 10891, tabled on 9 October 2015

To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect on SMEs of a move from the flat rate scheme for VAT to the general rate.

Answered on

21 October 2015

HMRC estimates that, on average, businesses moving from the flat rate scheme to standard VAT accounting incur extra administrative costs of £45 per year.

Answered by

Treasury
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