Last week, VAT specialists VATCalc revealed that the number of UK businesses registering for VAT and PAYE dropped by over 40,000, the first drop in registrations since 2011.
With the number of businesses currently sitting at 2.7m, small businesses and sole traders were the most likely to de-register. The sharp drop is believed to be caused by increasing cost-of-living pressures as well as post-Covid crisis insolvencies.
- Tightening the thumbscrews?
- A slow service
Source: www.accountingweb.co.uk
Latest Posts in "United Kingdom"
- Supreme Court Confirms No VAT Recovery on Professional Fees for Exempt Share Sales – Hotel La Tour Case
- ICS2 Required for Goods Moved from Great Britain to Northern Ireland or EU from 2026
- HMRC Updates VAT Group Registration Rules: New Criteria for Revenue Protection Powers
- HMRC Updates VAT Rules for Temporary Medical Staff and Locum Doctors – Refund Guidance Included
- HMRC Guidance: Refunds of UK VAT for non-UK businesses (VAT Notice 723A)
