UK VAT Threshold (Storify timeline)
Q1. The UK VAT Threshold could be lowered from £85,000 to as little as £20,000. The Chancellor says the Treasury is losing out to businesses that deliberately avoid making money to avoid taxes. How do you feel about these proposals?
Q2. Registering for VAT means adding 20% cost to your pricing. Many of us feel this makes us less competitive; we lower our prices to accommodate the 20% – which goes to the government. We earn less. Do you agree or disagree with this logic?
Q3. How much more can a small business be expected to pay to incorporate their business and file annual returns?
Q4. Why is the current UK VAT threshold so high at £85k? It’s the highest in Europe. What advantages does this afford the UK right now and what are the implications of Brexit on VAT?
Q5. Wouldn’t it be easier if businesses were allowed to charge a reduced rate of VAT to other businesses?
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