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<p>The UK has a higher VAT registration threshold than any EU member state and second
highest in the OECD – which keeps the majority of UK businesses out of VAT altogether.</p><p>The
Government have also put in place a generous package of Business Rates relief worth
£13.6 billion.</p><p>The Government has demonstrated its long-standing commitment
to supporting small businesses. At Spring Budget, the Government confirmed that, from
April 2023, the Small Profits Rate will mean 70 per cent of businesses will see no
increase in Corporation Tax this April. In fact, the UK has the lowest corporation
tax rate in the G7.</p><p>In addition, the Government continues to invest in the 38
Growth Hubs providing businesses across England with free one-to-one support and advice. Growth
Hubs offer a triage, diagnostic and signposting service to make sure that all businesses,
whatever their size or sector, know what help is available and can access the most
appropriate support.</p><p>While the Government keeps all taxes under review, it was
announced at Autumn Budget 2022 that the VAT threshold will be maintained at its current
level of £85,000 until 31 March 2026.</p>
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