New VAT plans for SMEs.

HM Customs and Excise has announced proposals to make life simpler for small businesses dealing with VAT. The new system, which could save businesses up to 1,000 [pounds sterling] a year, will simplify bookkeeping for businesses with a taxable turnover of under 100,000 [pounds sterling] a year. Customs and Excise is calling for feedback from SMEs by 7 September.

Contact 0845 010 9000 or www.hmce.gov.uk for a copy of the proposals.

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Title Annotation:	value added tax, small and medium enterprises
Publication:	Financial Management (UK)
Article Type:	Brief Article
Geographic Code:	4EUUK
Date:	Sep 1, 2001
Words:	76
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Topics:	Small business Taxation Tax law Value-added tax Laws, regulations and rules

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