Value Added Tax

HC Deb 21 July 1982 vol 28 cc181-2W

Mr. Grylls

asked the Chancellor of the Exchequer what is the net revenue yield to the Exchequer of traders registered for value added tax having a turnover of (a) less than £50,000 and (b) less than £30,000.

Mr. Bruce-Gardyne

The net revenue yield in 1980–81 from traders registered for value added tax, who had taxable turnover of less than £50,000 a year, was about £490 million. Traders with taxable turnover of less than £30,000 a year had a net revenue yield of about £300 million.

Mr. Grylls

asked the Chancellor of the Exchequer what proportion of traders registered for value added tax have a turnover of (a) less than £50,000 per annum and (b) less than £30,000 per annum.

Mr. Bruce-Gardyne

[pursuant to his reply, 21 July 1982, c.115]: About 50 per cent. of traders registered for value added tax have taxable turnover of less than £30,000 per annum and about 65 per cent. have taxable turnover of less than £50,000 per annum.