Written Question·Treasury·UIN 68157
Business: Income
Tabled: 15 July 2025
Answered: 23 July 2025
Question
Rupert Lowe
Restore Britain — Great Yarmouth
To ask the Chancellor of the Exchequer, how many businesses have had a turnover below the VAT threshold in each of the past five years.
Answer
James MurrayThe total number of businesses in 2024 is estimated at 5.6 million (see Business population estimates 2024 - GOV.UK, detailed table 2). According to HMRC statistics, there were around 1.3 million business registered for VAT with turnover above the thresho...
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