Small firms currently do not have to charge VAT on goods and services if their annual turnover is less than £85,000. However, according to a EU directive, which is expected to come into effect next year, the limit will be reduced to £76,700 in a bid to “harmonise” tax systems. MPs on the EU scrutiny committee warned that Britain will have to implement this directive as under the terms of Mrs May’s deal, the UK will not be able to veto the plans after March 2019.
Source: Brexit news: EU will ‘FORCE’ UK businesses to pay VAT under Theresa May’s deal | UK | News | Express.co.uk
2 thoughts on “Brexit news: EU will ‘FORCE’ UK businesses to pay VAT under Theresa May’s deal | UK | News | Express.co.uk”
This is another reason to leave the EU and as Labour’s Chris Leslie says this was not known in 2016, so Brexit is now the favourite through a No Deal.
Even if we vote to Remain we may still have to abide by this ruling and how many more rulings are and will be in the pipline that we do not know about.
With No Deal we will be in charge of our own destiny, it is the only course of action that can guarantee that.
MPs need to vote down the Mrs May deal and have an amendment that proposes the No Deal option. Any MPs that do not vote for the No Deal amendment will be voting against the option which will most benefit the UK, be in line with the 2016 Referendum and will support business, especially small businesses.
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