Value added Tax

HC Deb 01 May 1972 vol 836 cc57-8W

Mr. Deakins

asked the Chancellor of the Exchequer what is his estimate of the revenue from the 10 per cent. value added tax on the supply by way of sale of houses which are not new.

Mr. Higgins:

The value added tax will not apply to such supplies. Houses, except new construction which will be zero-rated, will be exempt from value added tax.

Mr. Hicks

asked the Chancellor of the Exchequer what is the estimated revenue that will result from the introduction of the value added tax on non-edible horticultural products.

Mr. Higgins:

Value added tax at a rate of 10 per cent. on sales of flowers, plants, seeds and shrubs to consumers is expected to yield about £13 million in a full year.