PRESS: UK's Reeves mulls raising VAT threshold for businesses

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UK Chancellor Rachel Reeves is in talks to raise the value added tax threshold for businesses in a bid to boost growth, The Telegraph reported Saturday.

Whitehall officials reportedly raised the prospect of lifting the VAT registration threshold from the current level of £90,000 at meetings before summer recess.

Businesses that have a turnover of below £90,000 per year are exempt from charging their customers VAT.

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