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