§ Mr. Heddleasked the Chancellor of the Exchequer what would be the estimated value added tax yield to the Exchequer if the existing value added tax zero-rating relief for building alteration work was abolished and replaced by tax at the standard rate.
§ Mr. Hayhoe[pursuant to his reply, 12 March 1984, c. 59]: About £450 million in a full year.
§ Mr. Heddleasked the Chancellor of the Exchequer what recent representations he has received concerning the scope and continuation of the existing value added tax zero-rating relief for building alterations.
§ Mr. Hayhoe[pursuant to his reply, 12 March 1984, c. 59]: Most pre-Budget representations on VAT have pressed for the removal of the tax from repair and maintenance work. More recently some trade associations have written about the continuation of the existing zero-rating for building alteration work.
§ Mr. Williamsasked the Chancellor of the Exchequer how long after the answer on 16 January, Official Report, column 13, the Customs and Excise issued a press release explaining the problem of moneys wrongly collected under regulations 58 and 59 of the Value Added Tax (General) Regulations and offering traders refunds; how much money was wrongly raised; how many traders were entitled to claim a refund; and if all refunds have been completed.
§ Mr. Lawson[pursuant to his reply, 12 March 1984, c. 59]: Customs and Excise issued a press notice on 24 February, some six weeks after the answer on 16 January. It is estimated that up to £3 million may have been collected by Customs and Excise, or in Scotland by sheriff 142W officers, under regulations 58 and 59. There are no reliable statistics on the number of traders who are entitled to claim a refund. Very few claims have been received so far, but any that are received will be processed promptly.