Bookkeeping and Outsourced Accounts Service

Good news for labour intensive businesses in North London

North London based accountants and business advisers Robinsons, has welcomed the news that labour intensive businesses across the region could benefit from a reduction in VAT.

The Government proposals were detailed last week following an Ecofin Council meeting, which was attended by UK Chancellor Gordon Brown, where the Luxembourg Finance Minister said that the issue would be a priority for the next two EU presidencies.

Joseph Robinson, principle at the firm comments: "Many of our clients are labour intensive small businesses and those who operate above the VAT threshold are often at a real disadvantage.

"These proposals are therefore excellent news for many small businesses as reduced VAT levels can really help new and expanding companies through difficult periods. It is also possible these announcements will encourage more entrepreneurs to take the plunge and set up their business as they will have less concerns over so much of their revenue being eaten up by the tax man."

For VAT advice call 020 7684 0707.