§ Sir John Eden
asked the Chancellor of the Exchequer how many organisations having a turnover of £100,000 or less are registered for VAT; and what is the proportion they represent of all the organisations so registered, the amount they pay in value added tax and the proportion that represents of the total amount of value added tax collected.
§ Mr. Peter Rees
[pursuant to his reply, 2 May 1980, c. 699]: One million registrations, 80 per cent. of all registrations for VAT, are of businesses with taxable turnover less than £100,000 a year. It is estimated that at the current rate of VAT traders among this group are making VAT payments of about £1,600 million a year, 8–9 per cent. of all VAT payments. Repayments of VAT by Customs and Excise, mainly to other traders in the group, are about £650 million a year, 11–12 per cent. of all VAT repayments.