§ Mr. Hendersonasked the Chancellor of the Exchequer what is his estimate of the administrative savings if the VAT threshold were raised from £5,000 to £30,000.
§ Mr. Robert SheldonIt 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 to a particular 103W level. I regret that for this reason the information requested is not available.
§ Mr. Hendersonasked the Chancellor of the Exchequer what is his estimate of the loss of revenue which would occur if the VAT threshold were raised from £5,000 to £30,000.
§ Mr. Robert SheldonAbout £120 million in a full year.
§ Mr. Stanleyasked the Chancellor of the Exchequer what is the estimated amount of VAT that will be paid by each household in the United Kingdom in 1976–77.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 10th February 1977; Vol. 925, c. 806], gave the following information:
It is estimated that on average each household in the United Kingdom will pay about £185 in VAT in 1976–77.