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VAT: Small Businesses

Asked by Mr Angus MacDonaldLiberal DemocratTreasuryTabled Answered 25 March 2026UIN 121536

The question

To ask the Chancellor of the Exchequer, what estimate her Department has made of the average time spent by businesses with turnover below £250,000 on VAT compliance, including preparing returns and maintaining records.

Answered by Dan Tomlinson

HMRC does not estimate the administrative cost to businesses with a turnover below £250,000 for processing and submitting VAT returns, as the cost can vary between businesses, regardless of their turnover. Administrative costs are largely dependent on their individual business processes and the nature and complexity of their record keeping.

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