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Small Businesses: Taxation

Asked by Helen GrantConservativeTreasuryTabled Answered 26 June 2025UIN 61523

The question

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of increasing the taxable turnover SMEs can earn in a12-month period before registering for VAT.

Answered by James Murray

At £90,000, the UK has a higher VAT registration threshold than any EU country and the joint highest in the OECD. This keeps the majority of businesses out of the VAT regime altogether.

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