§ Mr. Leeasked the Chancellor of the Exchequer if he considers that the deferment of taxation by corporate and private taxpayers through leasing transactions is in the national interest.
362Wto be registered. These figures include many traders who regularly claim repayments of VAT.
§ Mr. David Atkinsonasked the Chancellor of the Exchequer what is the estimated cost of collection of value added tax from businesses with an annual turnover of (a) £20,000 and (b) £50,000.
§ Mr. Peter ReesIt is estimated that the average cost to Customs and Excise in 1978–79 was about £70 in respect of each registered person.
No reliable information is available about the administration costs related to different categories of businesses but the cost of collecting VAT from a small firm is believed to be less than the average for all businesses.