Lay My Hat

Any thoughts on the proposed VAT threshold to 26k?

Sorry, where did you find this?

Telegraph. Read comments for more information.

http://www.telegraph.co.uk/news/2017/11 ... agged-vat/

You need to subscribe to read it so I can't read the article or the comments. Here it is in full. I'm gobsmacked tbh.
https://www.pressreader.com/uk/the-dail ... 3636421195

That would be a disaster for us, we don't buy many services that we pay VAT on so this would wipe out most of the profit. I think a move that hard is more likely to discourage small business or make people try and avoid the system by taking cash payments and under declaring revenue.

That would probably be the end for us. I had a thriving business ruined by the combined inefficiency of the VAT and tax offices 20 years ago and the experience nearly gave me a mental breakdown.
I just don't think I could cope with all that again.

The review report from the OTS into the simplification of the VAT quagmire has not even been published yet. Currently all that is available is this (which is actually worth a read): https://www.gov.uk/government/news/ots- ... iew-of-vat

The reports of “slashing the threshold to £10K” etc etc are just irresponsible journalists aiming for a bit of sensationalism.
No doubt when the review is published there’ll be some responsible commentary - then we can all crap ourselves...