- Potential changes to VAT registration thresholds to either include more small businesses or reduce compliance burdens
- Possible VAT relief or rate cuts for sectors like hospitality, retail, or leisure to address inflation and competition
- Adjustments to VAT on goods or services with rate anomalies, such as electric vehicle charging
- Tighter compliance and administrative changes, including digitalization and improved VAT reporting
- Less likelihood of an increase in the VAT headline rate due to political sensitivity and inflation concerns
- Review of Low Value Consignment Relief to address trade distortions and unfair advantages for overseas sellers
- Possible removal of the Postponed Import VAT Accounting mechanism for government cash flow benefits
Source: menzies.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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