Brussels threatens small businesses in the UK

[d000hg]

Strange all the multi-million or Multinational firms I worked for did not have any great troubles with it, maybe they learnt after their hundred thousandth invoice? Or maybe they just put it into the system and ran the vat report like anyone with any sense does?


Project Desperation strikes again!

They have a full-time accountancy team and spend thousands (millions?) on their financial systems. Someone turning over £75k doesn't.

[original PM]

Most people in the UK don't run businesses which submit VAT returns, so as it doesn't affect them, they don't care. To hell with all those who are impacted.

FTFY - Vat rules are really not going to affect that many people but like any one in business if the rules change you need to change to abide by them.

[Yorkie62]

FTFY - Vat rules are really not going to affect that many people but like any one in business if the rules change you need to change to abide by them.

I was having this discussion in the pub last night. A national classic car club that organises rallies and endurance runs for a particular old British car marque has been considering limiting numbers (which require entry fees) to said rallies and endurance runs to keep its turnover below the current VAT limit. Should the threshold be lowered then clubs such as this will be impacted to the point where the club may actually cease to be financially viable.

My point being that it is not just business that will be affected it is any organisation that has a reportable turnover.