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1639822
star this property registered interest false more like this
star this property date less than 2023-05-23more like thismore than 2023-05-23
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading VAT: Tax Yields more like this
star this property house id 1 remove filter
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if he will make an estimate of the potential impact of increasing the VAT registration threshold by the retail price index in each year to March 2026 on annual VAT revenues. more like this
star this property tabling member constituency North West Norfolk remove filter
star this property tabling member printed
James Wild more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 186515 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2023-06-01more like thismore than 2023-06-01
star this property answer text <p>The UK has a higher VAT registration threshold than any EU member state and the second highest in the OECD at £85,000. This keeps the majority of businesses out of VAT altogether. Any business with turnover of £85,000 or less does not have to register for VAT.</p><p> </p><p> </p><p>At Autumn Statement 2022 the Government announced that the VAT Registration Threshold would be frozen for two further years until March 2026. The Exchequer impact of this measure is shown in Table 4.2, Spring Budget 2023: <a href="https://www.gov.uk/government/publications/spring-budget-2023" target="_blank"><em>Spring Budget 2023 - GOV.UK (www.gov.uk)</em></a>. This costing has been certified by the Office for Budget Responsibility.</p> more like this
star this property answering member constituency Louth and Horncastle more like this
star this property answering member printed Victoria Atkins more like this
star this property question first answered
remove filter
star this property answering member
4399
star this property label Biography information for Victoria Atkins more like this
star this property tabling member
4787
star this property label Biography information for James Wild more like this