Economy VAT turnover, research analysis, UK: Jan 2014 to June 2016 Progress on plans to include VAT turnover data in the calculation of gross domestic product by the end of 2017, by initially using VAT data for small and medium sized businesses, alongside the Monthly Business Survey. ONS is undertaking a classification review of universities in the UK. The review will be conducted in accordance with ESA 2010 guidance, to ensure compliance with the new rules on assessing whether institutional units (that is, universities) are "market" or "non-market" producers. Further information on this can be found in section 3.1.2 of the classification process page on the ONS website. The outcome of the review will be that an individual university will either be deemed to be in the private non-financial corporations (S.11002) sector, or will remain classified as a non-profit institution serving households (S.15). |
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