- New research commissioned by tax software company Avalara reveals that 71% of UK businesses find VAT returns too complex and 93% of business decision-makers would support a movement to simplify the rules
- Nearly a quarter (24%) of UK businesses have been audited for filing their VAT return inaccurately or late
- Despite this, nearly a third (29%) of UK businesses are hesitant to invest in tax technology to support their business in the calculation and preparation of VAT returns
- VAT was introduced in the UK 50 years ago on 1 April
Source Avalara
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