VAT

Some 35,000 extra jobs could be created if the threshold at which small firms pay VAT is lifted, a leading business group has claimed.

The British Chambers of Commerce (BBC) has issued its latest economic forecast and has said that the UK economy should experience an upturn in growth in 2012.

The government’s response to a report on improving its online services has won the qualified welcome of the Chartered Institute of Taxation (CIOT).

Next year’s increase in VAT may have an adverse affect on the recovery.

The government has ruled out an official pre-Budget Report for this year, but has suggested that the Chancellor may make an autumn statement.

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