Immediately increase the VAT Threshold to £100,000

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Petition Action

Immediately increase the VAT Threshold to £100,000

Petition Details

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.

Additional Information

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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