Euro (Hansard, 21 January 2002)

HC Deb 21 January 2002 vol 378 c655W 655W

§ Mr. Reed
To ask the Chancellor of the Exchequer if he will make it his policy to allow United Kingdom businesses to make dual currency VAT returns to Customs and Excise where they trade in sterling and euros. [28395]

§ Ruth Kelly
No. The euro is treated for VAT return purposes as any other foreign currency.

§ Mr. Reed
To ask the Chancellor of the Exchequer if he will estimate the total cost to United Kingdom businesses of additional administrative costs following the introduction of euro notes and coins. [28396]

§ Ruth Kelly
It is not possible to estimate the administrative costs to United Kingdom businesses of the introduction of the euro in the euro area. This would depend on the approach taken by individual organisations.