Government urged to consider emergency VAT reduction

The government has again been urged to consider an emergency VAT reduction in order to help businesses once the coronavirus (COVID-19) lockdown ends.

Call 01922 628437 or email info@siaandco.co.uk

The government has again been urged to consider an emergency VAT reduction in order to help businesses once the coronavirus (COVID-19) lockdown ends.

A new report published by think tank Policy Exchange has suggested that reducing the rate of VAT to 15% could help boost consumer spending in the short-term. The current standard rate of VAT is 20%.

The publication of Policy Exchange's report comes following rumours that Chancellor Rishi Sunak is reportedly considering reducing the standard rate of VAT to help tackle the economic fallout caused by the COVID-19 lockdown.

According to reports, the Chancellor is preparing to deliver a 'Summer Statement' in early July, in which he is likely to outline new initiatives on skills and apprenticeships, alongside measures to help boost the UK economy.

Experts have also recommended cutting employer national insurance contributions (NICs) and extending the business rates relief scheme in England and Wales.

For more information about S I Ahmed & Co. Certified Public Accountants, Chartered Payroll Professionals, Tax and Business Advisors, please contact us.

AIA - The Assoication of international accountants AAT - The Association of Accounting Technicians CPAA - Certified Public Accounants Assoication CIPP - The chartered institute of payroll professionals intuit - Certified ProAdvisor Quickbooks - Certified ProAdvisor
About our team

Established since 1999, S I Ahmed & Co is a friendly, pro-active and growing firm of Accountants based in Walsall, providing a comprehensive range of accountancy, book-keeping, payroll, auditing and taxation services at competitive rates throughout the region.

Learn more

Latest news
Contact Details

Please call:
01922 628437

S I Ahmed & Co, 238 Wednesbury Road, Walsall, West Midlands WS2 9QN

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy Policy | Help |

© 2020 S I Ahmed & Co. All rights reserved. powered by totalSOLUTION
Registered Office: 238 Wednesbury Road, Walsall, West Midlands WS2 9QN

We use cookies on this website, you can find more information about cookies here.