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Written question asked by Guto Bebb (Conservative) on Friday, 9 October 2015, in the House of Commons. It was due for an answer on Tuesday, 20 October 2015 (named day). It was answered by David Gauke (Conservative) on Wednesday, 21 October 2015 on behalf of the Treasury.


Small Businesses: VAT

Question

To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect on SMEs of a move from the flat rate scheme for VAT to the general rate.

Answer

HMRC estimates that, on average, businesses moving from the flat rate scheme to standard VAT accounting incur extra administrative costs of £45 per year.


Secondary information

Type
Written question
Reference
10891
Session
2015-16
Subjects
Small businesses VAT
Link
View this Written question on www.parliament.uk