PARLIAMENTARY WRITTEN QUESTION
VAT: Tax Thresholds (23 May 2023)

To ask the Chancellor of the Exchequer, if he will estimate the number of businesses that are not required to register for VAT at the current threshold that would be required to register if the threshold were increased to (a) £90,000 and (b) £100,000 as of 23 May 2023.

Asked by:
James Wild (Conservative)

The numbers of VAT registered businesses in various turnover ranges can be found in Table 5a of this statistical publication on the GOV.UK website here: https://www.gov.uk/government/statistics/value-added-tax-vat-annual-statistics. Out of a total of 2,554,470 businesses registered for VAT in 2021-2022, a total of 1,222,240 were voluntarily registered below the threshold, representing slightly less than half the total.

Answered by:
Victoria Atkins (Conservative)
1 June 2023