VAT registration backlog threatens small firms' survival
Start up businesses are finding it difficult to trade because of a delay in receiving a VAT number from HM Revenue & Customs (HMRC), according to accountancy firm UHY Hacker Young.
Some firms are waiting between three and five months for VAT registrations because of "administrative backlogs" at HMRC. The firm warns that this delay could have a detrimental effect on small businesses, such as not being able to get invoices paid because they have no VAT number.
For more on this story go to:
http://www.uhy-uk.com
