§ 21. Mr. David Atkinson
asked the Chancellor of the Exchequer if he has received any recent representations in favour of raising the threshold for value added tax; and if he will make a statement.
§ Mr. Moore
About 20 such representations have been received since the last Budget. Increases in the VAT registration threshold are restricted by article 24 of European Council sixth VAT directive to those which maintain its value in real terms. The increase announced in the Budget was the maximum permissible within this restriction and took full account of inflation since April 1973.
§ 22. Mr. Thurnham
asked the Chancellor of the Exchequer what recent representations he has received about preferential treatment on value added tax debts.
§ 44. Mrs. Currie
asked the Chancellor of the Exchequer what is the total amount of value added tax currently outstanding.
§ Mr. Hayhoe
It is estimated that the average amount of value added tax outstanding is £1,200 million.