1-2 of 2 results for subject:VAT
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To ask the Chancellor of the Exchequer, how much income HMRC receives annually from charging VAT on medicines donated to patients through compassionate access schemes.
To ask the Chancellor of the Exchequer, how much income HMRC receives annually from charging VAT on medicines donated to patients through compassionate access schemes.
HMRC does not hold information on the annual revenue from VAT on donated medicines. This is because businesses are not required to provide a breakdown by product in their VAT returns, as this would impose an excessive administrative burden.
I have heard from firms and others that the VAT rules in this area may impact the sector’s ability to donate medicines. On 23 June, I announced that the Government will take forward a new approach to address this issue as soon as possible. The costing for any new tax measure will be provided in the usual way at the next fiscal event.