Wednesday 15th November 2017

One million small UK business face having to register for VAT

For small businesses, this report from The Office of Tax Simplification will kick off a debate about the registration threshold.
Lowering the VAT threshold to £26,000 could bring many small business into VAT for the first time and impose new VAT reporting regulations.  Lower thresholds will bring many business into quarterly reporting for making tax digital quicker than expected.