To ask Her Majesty's Government what plans they have to introduce VAT relief for small businesses until the end of the tax year.
Answered on
26 July 2022
The UK’s VAT registration threshold is set at £85,000, which is the highest in the OECD and as compared to EU Member States. This keeps the majority of UK businesses out of VAT altogether.Whilst the Government keeps all taxes under review, it was announced at Budget 2021 that the VAT threshold will be maintained at its current level of £85,000 until 31 March 2024.
Answered by
Treasury