§ Mr. John Evansasked the Chancellor of the Exchequer what is the anticipated Exchequer revenue from value added tax from firms offering funeral services to the general public in the current financial year; and in a full financial year, assuming a 15 per cent. rate of value added tax.
§ Mr. Peter ReesI shall let the hon. Member have a reply as soon as possible.
§ Mr. John Evansasked the Chancellor of the Exchequer how much the Exchequer collected in value added tax from firms offering funeral services to the public in each financial year from April 1974 to the latest available date.
§ Mr. Peter ReesI shall let the hon. Member have a reply as soon as possible.
§ Mr. McQuarrieasked the Chancellor of the Exchequer, in view of the fact that the cost of collecting value added tax from small business firms exceeds the value of money collected, if he will now take steps to raise the threshold of payment.
§ Mr. Peter ReesI shall let my hon. Friend have a reply as soon as possible.
§ Mr. Dubsasked the Chancellor of the of the Exchequer what will be the additional burden on local authorities (a) this year and (b) in a full year of the increase in value added tax.
§ Mr. KingI have been asked to reply.
Section 15(1) of the Finance Act 1972 provides broadly that local authorities 36W may reclaim from Customs and Excise value added tax which they have suffered on goods and services they purchase. The reason for this provision is to ensure as far as possible that VAT does not fall as a burden on the rates or the rate support grant. The effect of varying the rate of VAT is therefore de minimis.