Submitted by Elluisa Vitale on Tuesday 21st November 2023
Published on Monday 4th December 2023
Current status: Open
Open until: Tuesday 4th June 2024
Current Signatures: 79
(count is updated approximately hourly)
Relevant Departments
Change VAT Threshold to Profit Earned
Change the threshold for VAT to profit earned rather than turnover.
Many small businesses (especially hospitality) have high turnovers but minimal profit!
How are we expected to pay more in VAT than what we make in profit?
With the increasing costs of ingredients and staff wages along with high overheads, it can be almost impossible for small businesses in hospitality to survive due to burdensome tax bills. We believe the Government is crippling businesses and causing closures while big chains continue to make millions of pounds!
If you want to sign this petition (as opposed to merely discuss it), you need to do that on the government's e-Petitions website.
18.227.161.132 Wed, 01 May 2024 09:07:00 +0100