§ Mr. David Mitchellasked the Chancellor of the Exchequer what is the latest estimated annual cost of raising the exemption level for VAT from £5,000 to £8,000, £9,000, £10,000, £20,000 and £25,000, respectively.
§ Mr. Robert SheldonFor the loss of revenue I would refer the hon. Member to replies given to him on 6th February—[Vol. 904, c.775]—and 3rd May—[Vol. 910, c. 256]. It is not possible to estimate with any reasonable accuracy the number of registered traders who might seek deregistration if the VAT exemption limit were raised, and for this reason estimates of the saving in administrative costs are not available.