Closed petition Immediately increase the VAT Threshold to £100,000

The VAT threshold has been £85,000 for several years but now due to increased fuel costs and a massive rise in inflation, costs for small businesses are spiralling and many face decreasing earnings and profits.

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Reducing costs to businesses by increasing the VAT threshold should mean increased profits and could lead to higher tax revenues to the treasury.

Increasing the VAT threshold should help ensure small business owners have a reasonable income and incentive increasing earnings up to the new threshold. It could be a win for both sides.

This petition is closed All petitions run for 6 months

149 signatures

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10,000

Date closed 22 May 2023
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