Petition · past parliament · HM Treasury
Change VAT Threshold to Profit Earned
Closed
79 signatures
What the petition asks
Change the threshold for VAT to profit earned rather than turnover.
Many small businesses (especially hospitality) have high turnovers but minimal profit!
Many small businesses (especially hospitality) have high turnovers but minimal profit!
How are we expected to pay more in VAT than what we make in profit?
With the increasing costs of ingredients and staff wages along with high overheads, it can be almost impossible for small businesses in hospitality to survive due to burdensome tax bills. We believe the Government is crippling businesses and causing closures while big chains continue to make millions of pounds!
With the increasing costs of ingredients and staff wages along with high overheads, it can be almost impossible for small businesses in hospitality to survive due to burdensome tax bills. We believe the Government is crippling businesses and causing closures while big chains continue to make millions of pounds!
Timeline
| 4 Dec 2023 | Petition opened for signatures |
| 29 May 2024 | Closed to new signatures |
Key facts
Signatures
79
Status
Closed
Department
HM Treasury
Opened
4 Dec 2023
Closed
29 May 2024
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Source: the official petition page. Last checked 15 Jul 2026.