HC Deb 24 July 1975 vol 896 cc285-6W
Mr. Knox

asked the Chancellor of the Exchequer whether he will take measures to end the loss of VAT incurred by estimating the amounts due from retail businesses, and to ensure that remittances are calculated on actual sales by requiring that the tax records should be reconciled with the business accounts.

Mr. Robert Sheldon

It is already part of the duty of a Customs and Excise officer visiting a trader for VAT purposes to verify that the VAT records and the other accounts of the business are consistent.

Mr. Knox

asked the Chancellor of the Exchequer what is the maximum percentage difference which is allowed for between the VAT returned by a retailer and that estimated to be receivable from him before the accuracy of his return is queried by Her Majesty's Customs and Excise.

Mr. Robert Sheldon

Checks are imposed on all traders' VAT returns, but there is no single percentage of the kind postulated in the Question.