The Department of Trade and Industry regards VAT registration figures as the best official guide to the pattern of business start-ups and closures across the country.
In 1999 there was a net gain of 6,500 companies registering for VAT given a total of 178,500 new registrations and 172,000 de-registrations. This brought the total of VAT registered businesses to 1,658 thousand at the beginning of 2000, up from 1,652 thousand a year earlier.
Business Sectors
As far as specific sectors of the economy are concerned, 1999 saw net losses in wholesale, retail and repairs and in manufacturing. There were net gains in business services, where registrations grew by 120,000 during the six years ending in 1999 to reach a total of 426,900. This sector now accounts for one in four VAT registered businesses in the UK.
Enterprises Registering and De-registering for VAT by Industry 1999 (Thousands)
