Value Added Tax

HC Deb 13 November 1979 vol 973 cc537-8W

Mr. David Atkinson

asked the Chancellor of the Exchequer what would be the effect on (a) collection costs and (b) net revenue of abolishing the value added tax threshold.

Mr. Peter Rees

The information is not available to make reasonable estimates.

Mr. Biffen

Such information as is readily available is shown in the table below:

The increase in net revenue would be small in relation to the yield of VAT and the increase in costs disproportionate to the increase in revenue.