UK HMRC has announced an increase in the VAT threshold from GBP 85,000 to GBP 90,000 with effect from 1 April 2024, as well as a freeze of business rates.
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Boost for small business as VAT threshold raised and rates frozen
- 28,000 small businesses freed from paying VAT, encouraging them to invest and grow as the threshold is raised from £85,000 to £90,000
- Over one million properties protected from higher bills by freezing the small business rates multiplier for a fourth consecutive yea…