Raise the VAT registration threshold to stimulate growth

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Raise the VAT registration threshold to stimulate growth

Additional Information

A significant rise in the VAT registration threshold would help many people who trade close to the current threshold & limit their turnover to prevent registration.
Many of these traders could not absorb this extra to their business unless they were to trade well over the registration limit. For those that would only maintain a small increase in turnover forced registration would not be a viable option.
It is doubtful that there are many VAT registered businesses that trade just over the current limit and so an increase to the threshold of £10,000 to £15,000 would lose little VAT revenue for the government while the extra profit generated from this increase in turnover would be good for UK small businesses & also generate extra income tax & NI payments for the government. While any limit would have an effect for those trading close to it, there is a viable option to increase the current registration limit & maybe widen the gap between the limits for registration and de-registration.

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