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AAT survey shows significant support for a rise.
The Association of Accounting Technicians (AAT) 2017 VAT survey shows support for a significant increase in the VAT threshold (£85,000) with more than 36% of members in favour.
Only 9% supported a reduction to zero, as in Italy, Spain and Sweden; 5% favoured a reduction to match the personal allowance (£11,500) and a further 18% called for a reduction to equal the EU average of £25,000. The balance was happy with the status quo.
The survey found that 36% of members would like definitions and boundaries for VAT rates to be examined, and complexities reduced or better managed.
Members were evenly split on the likely implications of Making Tax Digital on VAT rules, with 34% believing it would not have much effect, 30% thinking it would and 35% not knowing.
