§ Mr. Matthew BanksTo ask the Chancellor of the Exchequer from which date the value added tax changes will be introduced which stem from the EC seventh VAT directive and which specifically affect(a) importers of 909W works of art, (b) antiques, (c) collectors' pieces and cars and (d) agents. [18578]
§ Mr. Heathcoat-AmoryThe provisions in the Finance Bill introducing many of these changes will take effect following Royal Assent, which is a moveable date. I am aware, however, that businesses would find it of assistance to have a firm date by which they should amend their procedures in order to be able to take account of changes. In view of this, it has been decided that the changes which affect importers of certain works of art, antiques, collectors' pieces and cars, and agents who act in their own names will be introduced with effect from 1 June 1995. I am sure that the affected businesses will welcome this decision.