Business: Income
Commons · Question 68157 · Tabled 15 Jul 2025 · Treasury · Official record
Answered 23 Jul 2025
Question
Asked by Rupert Lowe
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
Answered by James Murray, 23 Jul 2025
The 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...