Submitted by Bruce Hewison on Thursday 17th November 2022
Published on Tuesday 22nd November 2022
Current status: Closed
Closed: Monday 22nd May 2023
Signatures: 149
Relevant Departments
Tagged with
Ensure ~ Face ~ Fuel ~ fuel costs ~ INCREASE ~ inflation ~ massive ~ Owners ~ Reasonable ~ RISE ~ Small businesses ~ Tax ~ tax revenues ~ Treasury ~ Up ~ Years
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.
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.
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3.135.190.107 Thu, 21 Nov 2024 11:12:14 +0000
