Dorset Green MEP Issues Warning On New VAT Rules
6:35am 5th January 2015
Dorset's Green MEP's concerned new rules on VAT could out many small businesses...OUT of business.
Molly Scott Cato's pressing the EU to cut the red tape on the new rules, which came into force on January the first.
It means if they export to different countries they'll have to pay VAT at each different country's rates.
She says that could not only be prohibitively costly for small concerns who don't reach the VAT threshold in the UK, but could mean a mountain of paperwork and rules to adhere to, using up time entrepreneurs would put to trying to make their business a success, or to prevent it folding.