§ Mr. Kennedyasked the Chancellor of the Exchequer what representations he has received concerning the present borderline affecting liability for value added tax in so far as it affects the disposal of personal property for business and non-business activities; and if he will make a statement.
544W
§ Mr. HayhoeMy right hon. Friend has received one representation on this subject. The present borderline, which brings within the scope of VAT any disposal of property which is undertaken in furtherance of any business, while leaving purely private transactions outside the scope of the tax, is clear and equitable.