UK Business Lobby Wants Budget to Restart VAT Threshold Review

UK businesses want the Treasury to look into revising the value-added tax registration threshold after a two-year freeze.

The British Chambers of Commerce recommended Thursday that Treasury review the VAT registration threshold that is currently at £85,000 pounds ($107,055). The tax office started a freeze on the VAT threshold in April 2022 that ends on March 31.

Businesses making more than that will be liable to register for VAT, and the lobby group flagged that small businesses are concerned about growing revenue beyond this point because of the tax. The VAT rate in the UK is at 20% with ...