Petition Change VAT Threshold to Profit Earned
Change the threshold for VAT to profit earned rather than turnover.
Many small businesses (especially hospitality) have high turnovers but minimal profit!
How are we expected to pay more in VAT than what we make in profit?
With the increasing costs of ingredients and staff wages along with high overheads, it can be almost impossible for small businesses in hospitality to survive due to burdensome tax bills. We believe the Government is crippling businesses and causing closures while big chains continue to make millions of pounds!
At 10,000 signatures...
At 10,000 signatures, government will respond to this petition
At 100,000 signatures...
At 100,000 signatures, this petition will be considered for debate in Parliament