To ask the Chancellor of the Exchequer, how many businesses (a) do not meet the VAT threshold and (b) have profits over £45,000 in (i) the UK and (ii) in each region of the UK.
The most recent year for which we hold complete tax records is for businesses with a basis period ending in 2021-22. For this year across the whole of the UK, there were a total of 9,170,000 businesses that declared turnover below the VAT threshold. Of th...
VAT