Increase the VAT threshold for small businesses.
As a small business that operates on a purely residential basis - in private homes where any added VAT is not claimed back by home owners - I feel that all small businesses would benefit from a raised VAT cap which would allow them to grow and would boost the economy further.
Small companies make up 96% of the business in the UK and contribute to 33% of employment and 22% of turnover. I feel that if small companies - specifically ones that cater purely to the needs of private households where added VAT is only a hinderance for all involved - had an increased VAT threshold of anywhere between £110,000-£150,000 then they would be encouraged to grow and in doing so support the UK economy even more.
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Currently ranked 584 out of 1,789 open petitions, and 16,724 out of 100,382 petitions ever created.
Thursday 17 May 2018
Friday 16 November 2018