HC Deb 15 March 1973 vol 852 cc391-2W
Mr. Faulds

asked the Chancellor of the Exchequer (1) whether it is his intention that, where a work of art or antique owned jointly by two or more value added tax registered dealers is sold by one of them for export, the sale of the exporting dealer by the other dealers of their respective share or shares shall be zero-rated; (2) whether it is his intention that an otherwise eligible work of art or antique, owned in shares by a value added tax registered dealer and a non-taxable person, shall be eligible for inclusion in the special scheme for works of art and antiques contained in Her Majesty's Customs and Excise Notice No. 712 to the extent that it is owned by the registered dealer; (3) whether it is his intention that, where an antique eligible for inclusion within the special value added tax scheme contained in Customs Notice 712 is owned jointly by two or more registered dealers, the failure of one or more of such dealers to include the item within the special scheme shall preclude the other dealer or dealers from operating the special scheme as regards their shares; (4) whether it is his intention that, where a work of art or antique is owned jointly by a registered British dealer and a foreign dealer and it is sold by the foreign dealer to a British resident, the sale by the British dealer to the foreign dealer of his share in the item shall be zero-rated for value added tax purposes provided the item is exported and reimported.

Mr. Higgins

Accounting for VAT purposes in cases of joint ownership is at present under consideration.

Mr. Faulds

asked the Chancellor of the Exchequer what steps he will take to ensure that fine art and antique dealers and auctioneers with overseas subsidiaries do not enjoy an advantage over dealers and auctioneers without such subsidiaries, bearing in mind that value added tax is not payable on imports of works of art and antiques within specified categories.

Mr. Higgins

This will be kept under review.

Mr. David Clark

asked the Chancellor of the Exchequer if, in order to increase its availability in the Colne Valley area, he will publish the Central Office of Information Local Retail Index List in connection with value added tax in the Huddersfield Daily Examiner and the Oldham Evening Chronicle.

Mr. Higgins

Leaflets containing this information will be available free at post offices on 26th March. Selection of newspapers to carry Government advertising is made on a commercial basis.