Have people seen this survey KPMG did on business readiness for the changes last year? Let me flag up a few key points for you. Pricing strategy Over 75% of businesses surveyed are considering increasing their prices from 2015. Compliance and costs 31% – nearly one in three businesses with turnover of £50m-£100m do not believe that they will be ready to comply with the changes by 1 January 2015. Commercial strategy 61% Of businesses with turnover of £50m-£100m are considering reducing the number of EU territories into which they sell affected products. Education and awareness 62% Of small-sized businesses were not aware that the changes to VAT are happening. And these are businesses who knew it was coming and could reasonably be expected to have the resources to cope. How exactly are the smallest scale traders supposed to manage? I have another question. Who in any kind of relevant government department would have seen this information? If not, why not? Or do firms like KPMG just post this sort of stuff online, in the manner of someone chucking a message in a bottle out to sea? In hopes that someone somewhere might pick it up…? Please feel free to use this in letters you are writing. kpmg/UK/en/IssuesAndInsights/ArticlesPublications/Documents/PDF/Tax/2015-vat-changes.pdf
Posted on: Tue, 20 Jan 2015 10:14:10 +0000