HC Deb 05 June 1984 vol 61 cc126-7W
Mr. Bowen Wells

asked the Chancellor of the Exchequer how he calculated the extra revenue he expects to raise in 1984–85 from value added tax imposed at point of entry on imported wines.

Mr. Hayhoe

The withdrawal of arrangements for postponed accounting will bring forward the payment of VAT on imports by about six and a half weeks. The figures given in my reply to my hon. Friend on 2 May at column 156–7 are an estimate of the amount of VAT on imported wine expected to be thus brought forward to 1984–85 from 1985–86. By its nature such an estimate is liable to considerable uncertainty and was quoted as a range.

Mr. Bowen Wells

asked the Chancellor of the Exchequer what extra revenue he anticipates raising from imported spirits in barrel as a result of imposing value added tax at point of entry; and how he calculates his estimate.

Mr. Hayhoe

Extra receipts in 1984–85 from imported spirits in barrel are expected to be negligible. It is normal practice for spirits imported in bulk to be bottled in bond. At the stage they are released from bonded warehouse and there is a supply on which VAT is charged, spirits are mostly in bottle.