Treasury written question – answered on 25th November 2022.

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Photo of Kevan Jones Kevan Jones Labour, North Durham

To ask the Chancellor of the Exchequer, if he will raise the basic VAT taxable turnover threshold.

Photo of Victoria Atkins Victoria Atkins The Financial Secretary to the Treasury

To give businesses certainty, it was announced at Autumn Statement that the VAT registration threshold will remain at £85,000 for a further period of two years from 1 April 2024.

The UK has a higher VAT registration threshold than any EU Member State and the second highest in the OECD at £85,000. This keeps the majority of businesses out of VAT altogether.

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