§ Mr. Lawrenceasked the Chancellor of the Exchequer how many requests he has received for the relief of crime prevention equipment, such as burglar alarms, from VAT.
§ Mr. Robert SheldonAbout 100 since May 1975.
§ Mr. Jim Spicerasked the Chancellor of the Exchequer if he can give an estimate of the amount of VAT outstanding as at 31st December 1975.
§ Mr. Robert SheldonVAT is basically a self-assessed tax and it is not yet possible to estimate accurately the amount that became due as recently as 31st December 1975. The latest available estimate relates to 30th September 1975, when the gross amount of VAT believed to be outstanding was about £850 million of which about £570 million only became due on that day.
§ Mr. Banksasked the Chancellor of the Exchequer what is the revenue to the 88W nearest convenient date from (a) the 25 per cent. VAT rate and (b) the 8 per cent. VAT rate on burglar alarm systems.
§ Mr. Robert SheldonAs we do not trouble VAT registered traders to supply tax details on particular goods and services I regret that the information is not available. The revenue is likely to be small.