Jeremy Hunt Plans To Hit Small Businesses With Stealth Vat Raid
The Chancellor is set to keep the threshold at which businesses must register to pay VAT of £85,000 turnover until 2026, rather than increasing it in line with inflation. The plans mean thousands more businesses will pay the tax for the first time as their turnover increases in line with the price rise. That limit is already frozen until 2024, but Mr Hunt and Rishi Sunak, the Prime Minister, are considering extending it for another two years....