{"id":3257,"date":"2017-12-06T16:59:49","date_gmt":"2017-12-06T16:59:49","guid":{"rendered":"http:\/\/my-brains.co.uk\/jackross\/?p=3257"},"modified":"2017-12-19T12:08:40","modified_gmt":"2017-12-19T12:08:40","slug":"chancellor-freezes-vat-threshold-2020","status":"publish","type":"post","link":"https:\/\/my-brains.co.uk\/jackross\/chancellor-freezes-vat-threshold-2020\/","title":{"rendered":"Chancellor freezes VAT threshold until 2020"},"content":{"rendered":"<p><strong>Small businesses breathed a collective sigh of relief when chancellor Philip Hammond resisted calls to lower the VAT threshold in Autumn Budget 2017.<\/strong><\/p>\n<p>The Office of Tax Simplification (OTS) made eight core recommendations for the government to clarify the VAT system ahead of the chancellor\u2019s speech on 22 November 2017.<\/p>\n<p>It called the current VAT registration threshold of \u00a385,000 the most pressing issue in its Routes to Simplification report.<\/p>\n<p>The report claimed the UK registration threshold is the highest in the EU and \u00a370,000 higher than the average VAT exemption around the world, which stands at \u00a315,000.<\/p>\n<p>While the UK registration threshold enables many small businesses to stay out of the VAT system, the OTS claimed recent increases could be costing the economy more than \u00a32 billion a year.<\/p>\n<p>But the chancellor decided to freeze VAT thresholds for two years. A move that was welcomed by the Federation of Small Businesses (FSB).<\/p>\n<p><strong>Mike Cherry, chairman of the FSB,<\/strong><strong>\u00a0<\/strong>said<strong>: <\/strong><\/p>\n<p>\u201cIt was good to see the chancellor\u2019s speech acknowledge our concerns about the VAT<strong>\u00a0<\/strong>threshold.<\/p>\n<p>\u201cDragging thousands more small firms into the hugely complex VAT regime would have caused a significant drag on output at an already challenging time for businesses.<\/p>\n<p>\u201cSmall firms spend more than a working week a year complying with VAT obligations on average. It\u2019s time that should be spent growing their firms.\u201d<\/p>\n<p><strong><em>Get in touch today to speak to a member of our team about VAT. You can call us on either 0161 832 4451 or via email at <a href=\"mailto:info@jackross.co.uk\">info@jackross.co.uk<\/a>.\u00a0<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Small businesses breathed a collective sigh of relief when chancellor Philip Hammond resisted calls to lower the VAT threshold in Autumn Budget 2017. The Office of Tax Simplification (OTS) made eight core recommendations for the government to clarify the VAT system ahead of the chancellor\u2019s speech on 22 November 2017. It called the current VAT&hellip;&nbsp;<a href=\"https:\/\/my-brains.co.uk\/jackross\/chancellor-freezes-vat-threshold-2020\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">Chancellor freezes VAT threshold until 2020<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":3267,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":""},"categories":[6],"tags":[194,112],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chancellor freezes VAT threshold until 2020 - Manchester Chartered Accountants<\/title>\n<meta name=\"description\" content=\"Chancellor Philip Hammond resisted calls to lower the VAT registration threshold in Autumn Budget 2017. The VAT threshold remains at \u00a385,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/my-brains.co.uk\/jackross\/chancellor-freezes-vat-threshold-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chancellor freezes VAT threshold until 2020 - Manchester Chartered Accountants\" \/>\n<meta property=\"og:description\" content=\"Chancellor Philip Hammond resisted calls to lower the VAT registration threshold in Autumn Budget 2017. The VAT threshold remains at \u00a385,000.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/my-brains.co.uk\/jackross\/chancellor-freezes-vat-threshold-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Manchester Chartered Accountants\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/jackrosstax\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-06T16:59:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-12-19T12:08:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/my-brains.co.uk\/jackross\/wp-content\/uploads\/2017\/12\/helloquence-51716-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1281\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Umar Memon\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Umar Memon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/chancellor-freezes-vat-threshold-2020\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/chancellor-freezes-vat-threshold-2020\/\"},\"author\":{\"name\":\"Umar Memon\",\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#\/schema\/person\/890f768e5ff3e5664eda31546d21b6e8\"},\"headline\":\"Chancellor freezes VAT threshold until 2020\",\"datePublished\":\"2017-12-06T16:59:49+00:00\",\"dateModified\":\"2017-12-19T12:08:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/chancellor-freezes-vat-threshold-2020\/\"},\"wordCount\":254,\"publisher\":{\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#organization\"},\"keywords\":[\"Threshold\",\"VAT\"],\"articleSection\":[\"VAT\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/chancellor-freezes-vat-threshold-2020\/\",\"url\":\"https:\/\/my-brains.co.uk\/jackross\/chancellor-freezes-vat-threshold-2020\/\",\"name\":\"Chancellor freezes VAT threshold until 2020 - Manchester Chartered Accountants\",\"isPartOf\":{\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#website\"},\"datePublished\":\"2017-12-06T16:59:49+00:00\",\"dateModified\":\"2017-12-19T12:08:40+00:00\",\"description\":\"Chancellor Philip Hammond resisted calls to lower the VAT registration threshold in Autumn Budget 2017. 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