HC Deb 12 February 2004 vol 417 cc1611-2W
Mr. Pollard

To ask the Secretary of State for Trade and Industry what steps her Department has taken since 1997 to reduce the administrative burden on small and medium-sized enterprises of compliance with VAT regulations; and how many companies are eligible to benefit from these steps. [153149]

Nigel Griffiths

The UK has the best VAT threshold in the EU allowing 2 million of the smallest businesses remain outside the VAT net altogether.

Several special schemes are aimed at simplifying VAT for small business: the Flat Rate Scheme available to businesses with turnovers up to £150,000 can benefit up to 700,000 SMEs; the Cash Accounting Scheme allows businesses to complete their VAT returns on the basis of payments received and made, rather than sales invoices issued and purchase invoices received; The Annual Accounting Scheme replaces four VAT returns a year with one only. This open to all businesses with a turnover of £150,000 or less, and open to businesses who have been registered for 12 months with a taxable turnover of £600,000. These two measures are used by approximately 159,000 businesses.

Mr. Pollard

To ask the Secretary of State for Trade and Industry when Mr. David Franklin was appointed as a small and medium-sized enterprises adviser to the Government; and in what capacity. [153264]

Nigel Griffiths

There is no record of David Franklin being appointed as a small and medium-sized enterprises adviser and he is not paid by the Government.

Mr. Stephen O'Brien

To ask the Secretary of State for Trade and Industry what plans she has to reform the Small Business Loan Scheme; and if she will make a statement. [153539]

Nigel Griffiths

Teresa Graham is currently leading an Independent Review of the Small Firms Loan Guarantee. Recommendations will be published in summer 2004.