§ 66. Mr. Pardoeasked the Chancellor of the Exchequer what is the level of sales above which a craftsman must pay Purchase Tax; when this level was last 339W fixed; and what it should now be to take account of the rise in the cost of living.
§ Mr. DiamondSmall manufacturers, including craftsmen, are required to account for Purchase Tax if their gross takings from sales of taxable goods exceed £500 a year on the average. This limit was fixed in 1941. It still serves its purpose of contributing to efficient administration of the tax and I do not accept that it should now be raised in line with the change in the value of money.