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<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>
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