The number of businesses registered for VAT in Castle Point constituency and in Essex for the past five years is shown in the following table.
Castle Point constituency Essex 2004 2,440 45,460 2005 2,475 46,430 2006 2,565 47,580 2007 2,605 48,485 2008 2,685 49,710 Source: BERR National Statistics publication “Business start-ups and closures: VAT registrations and de-registrations 2007” available at: http://stats.berr.gov.uk/ed/vat/index. htm
The number of VAT-registered businesses in Castle Point constituency rose from 2,440 at the start of 2004 to 2,685 at the start of 2008—a rise of 10 per cent., compared with a rise of 9 per cent. in both Essex and across the whole of the UK.
VAT registrations do not capture all business activity. Businesses are unlikely to be registered if they fall below the compulsory VAT threshold, which was £64,000 at the start of 2007. Only 1.96 million out of 4.7 million UK enterprises (42 per cent.) were registered for VAT at the start of 2007.