vat rate change

VAT Rate Change Not Helping SMEs

VAT Rate Change Not Helping SMEs

Small Business News – 5th March 2009 Eighty-two percent believe that the rate change was not a good idea; ninety-eight percent believe that the rate change will not result in any material increase to business 82% of SMEs feel that the Chancellor’s VAT rate cut was not a good idea, according to a survey conducted by mid-market business software house Access Accounting. The findings of the survey will make difficult reading for the government as it looks at ways to stimulate the suffering economy. The Chancellor’s 2.5% VAT rate cut has been in effect for almost three months, yet 51% of businesses say that the change is not doing enough to stimulate the economy. 27% believe that it was a good start, but that the Chancellor needs to do more. Overwhelmingly, 98% feel that the ... »