UK Based Global VAT and Tax Compliance Consultants

Brexit News: VAT receipt slowdown in April

A major slow down in VAT receipts growth contributed to a much weaker than expected public borrowing figures for April and renewed concerns about the resilience of the British consumer market in relation to higher inflation. The Office for National Statistics reported this week that VAT receipts rose at an annual rate of just 0.2% in the month. The weakest year-on-year expansion rate since August last year.