§ Simon HughesTo ask the Secretary of State for Trade and Industry what the start up rate was for small businesses in(a) each London borough, (b) London and (c) England in each year since 1997. [144172]
§ Nigel Griffiths[holding answer 15 December 2003]Value added tax (VAT) registrations and de-registrations are the best official guide to the pattern of start-ups and closures. These cover businesses of all sizes.
The rates of businesses registering for VAT in each calendar year from 1997 to 2002 in each London borough, London, and England, are set out as follows.
However, changes since 1997 have given the UK the highest VAT threshold in the EU and removed up to 700,000 businesses from the requirement to register for VAT.