R1m threshold affects small businesses, which employ many (often low-skilled) people
The problem of stealthy “bracket creep” doesn’t only affect pensions. There are many thresholds that regulate various levels of red tape for business, and most of these have not changed for a significant period.
The effect is particularly deleterious on businesses that provide personal and non-business services, and which employ many people. Being obliged to register for VAT in effect means a 15% reduction in income for these enterprises.
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