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Firms taking corporate receivership advice 'would benefit from VAT threshold rise'

Date Added: 10/12/2010  

Companies including those which are in need of corporate receivership advice would be boosted if the government elected to increase the VAT threshold.

This is according to the Federation of Small Businesses (FSB), which commissioned a report by the Centre for Economics and Business Research that explained a rise in the VAT threshold to £90,000 could save up to £162 million per year.

Currently, the VAT threshold stands at £70,000 and John Walker, national chairman of the FSB, stated that the smaller a firm is, the harder it is hit by VAT compliance.

"If the government is truly committed to a private sector led recovery, then it must implement a small business programme for growth to allow small firms to grow and invest," he said.

This comes after the FSB hailed a victory for firms such as those taking corporate receivership advice when the government announced that it is to make small business rate relief automatic.

Posted by Michael Beam 

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