§ Mr. StevensonTo ask the President of the Board of Trade what effect the new arrangement for the payment of VAT one month in arrears instead of three months in arrears is having on small and medium-sized businesses in the west midlands.
§ Sir John CopeI have been asked to reply.
The new arrangement for the payment of VAT monthly in arrears instead of quarterly in arrears applies only to the 1,600 or so largest VAT payers nationally. It will therefore have no direct effect on small and medium-sized businesses.