1-18 of 18 results for subject:VAT
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To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of differing VAT policies for dine-in establishments and takeaway-only premises on small takeaway food businesses in coastal and tourist areas, including those in Northern Ireland.
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of differing VAT policies for dine-in establishments and takeaway-only premises on small takeaway food businesses in coastal and tourist areas, including those in Northern Ireland.
VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. VAT is the UK’s second largest tax, forecast to raise £189 billion in 2026/27.
Hot takeaway food is subject to the 20 per cent standard rate of VAT. This ensures parity of treatment with food sold in restaurants, which is also subject to the standard rate. Exceptions to the standard rate have always been limited and balanced against affordability considerations.
Across the UK from 25 June to 1 September the Government is introducing a temporary reduced rate of VAT on children's menu meals and eligible family attractions.
This temporary VAT relief is focused on activities especially targeted at children and families, keeping the package targeted and affordable. Including takeaways would have significantly increased the cost of the package, and this decision means the Great British Summer Savings is more closely targeted at family days out.
To ask the Chancellor of the Exchequer, with reference to paragraph 2.40 of the Autumn Budget 2024, HC 295, published on 30 October 2024, if she will make an assessment of the potential impact of (a) the increase in the rate of employers' National Insurance Contributions and (b) the VAT...
To ask the Chancellor of the Exchequer, with reference to paragraph 2.40 of the Autumn Budget 2024, HC 295, published on 30 October 2024, if she will make an assessment of the potential impact of (a) the increase in the rate of employers' National Insurance Contributions and (b) the VAT...
The Government recognises that the significant contribution made by hospitality businesses to economic growth. At Autumn Budget 2024, the government took tough decisions on tax, spending and welfare to restore economic stability and invest in public services.
A Tax Information and Impact Note that covers the employer NICs changes was published by HMRC on 13 November, outlining the impact on business, that can be found here:
https://www.gov.uk/government/publications/changes-to-the-class-1-national-insurance-contributions-secondary-threshold-the-secondary-class-1-national-insurance-contributions-rate-and-the-empl/changes-to-the-class-1-national-insurance-contributions-secondary-threshold-the-secondary-class-1-national-insurance-contributions-rate-and-the-empl.
VAT is a broad-based tax on consumption and the 20 per cent standard rate applies to most goods and services. The Government currently has no plans to introduce a different VAT rate for the hospitality sector.
However, the Government keeps all taxes under review, including consideration of impacts.
To ask the Chancellor of the Exchequer, what estimate he has made of the number of people in who were waiting more than twenty working days for VAT refunds on eligible building works in April (a) 2022 and (b) 2021.
To ask the Chancellor of the Exchequer, what estimate he has made of the number of people in who were waiting more than twenty working days for VAT refunds on eligible building works in April (a) 2022 and (b) 2021.
To ask the Chancellor of the Exchequer, if he will remove VAT on purchases of defibrillators by individuals irrespective of where they are purchased in the UK.
To ask the Chancellor of the Exchequer, if he will remove VAT on purchases of defibrillators by individuals irrespective of where they are purchased in the UK.
The Government already maintains VAT reliefs to aid the purchase of Automated External Defibrillators (AEDs), including VAT relief on purchases made by local authorities and those made through voluntary contributions, where the AED is donated to eligible charities or the NHS. Otherwise, they attract the standard rate of VAT.
Any new VAT relief would come at a cost to the Exchequer and the Government has received over £50 billion worth of requests for relief from VAT since the EU referendum.
The Government keeps all taxes under review.
To ask the Chancellor of the Exchequer, if he will extend the 12.5 per cent VAT rate for the hospitality sector beyond 31 March 2022.
To ask the Chancellor of the Exchequer, if he will extend the 12.5 per cent VAT rate for the hospitality sector beyond 31 March 2022.
The temporary reduced rate of VAT was introduced on 15 July 2020 to support the cash flow and viability of around 150,000 businesses and protect over 2.4 million jobs in the hospitality and tourism sectors. As announced at Budget 2021, the Government has extended the temporary reduced rate of VAT of 5% for the tourism and hospitality sector. This relief ended on 30 September. On 1 October 2021, a new reduced rate of 12.5% was introduced to help ease affected businesses back to the standard rate. This new rate will end on 31 March 2022.
This relief will cost over £7 billion and, while all taxes are kept under review, there are no plans to extend the 12.5% reduced rate of VAT. The Government has been clear that this relief is a temporary measure designed to support the cash flow and viability of sectors that have been severely affected by COVID-19. It is appropriate that as restrictions are lifted and demand for goods and services in these sectors increases, the temporary tax reliefs are first reduced and then removed in order to rebuild and strengthen the public finances.
To ask the Chancellor of the Exchequer, if he will make an urgent assessment of the potential merits of reducing the VAT rate for on street retail shopping.
To ask the Chancellor of the Exchequer, if he will make an urgent assessment of the potential merits of reducing the VAT rate for on street retail shopping.
Raising over £130 billion in 2019/2020, VAT is an important source of revenue for the Exchequer and plays an important part in funding the Government’s spending priorities including hospitals, schools and defence.
A VAT reduction would therefore come at a considerable cost to the Exchequer.
In light of the COVID-19 outbreak, the Chancellor has announced a range of measures to help individuals and businesses through the crisis, including grants, loans and relief from business rates worth more than £300 billion.
The Government keeps all taxes under review.
That this House notes the unprecedented downturn in on-street retail shopping due to Covid-19, calls upon the Chancellor of the Exchequer to radically reduce VAT rates for items purchased in store, which would offer much needed assistance to high street retailing in the face of the substantial increase in online shopping which has occurred since March 2020.
That this House notes the unprecedented downturn in on-street retail shopping due to Covid-19, calls upon the Chancellor of the Exchequer to radically reduce VAT rates for items purchased in store, which would offer much needed assistance to high street retailing in the face of the substantial increase in online...
To ask the Chancellor of the Exchequer, what progress has been made on implementing the pilot system for VAT ahead of the introduction of the Making Tax Digital regime in April 2019.
To ask the Chancellor of the Exchequer, what progress has been made on implementing the pilot system for VAT ahead of the introduction of the Making Tax Digital regime in April 2019.
In October HMRC opened the pilot to around half a million businesses which meet the initial eligibility criteria. This means that around half of businesses with turnover above the VAT threshold will be able to join the new service now, and begin familiarising themselves with it, with further businesses eligible to join shortly.
To ask Mr Chancellor of the Exchequer, what the Government's timetable is for setting out its plans arising from its consultation on the impact of VAT and air passenger duty on tourism in Northern Ireland.
To ask Mr Chancellor of the Exchequer, what the Government's timetable is for setting out its plans arising from its consultation on the impact of VAT and air passenger duty on tourism in Northern Ireland.
As announced at Autumn Budget 2017, the government has published a call for evidence on the impact of VAT and APD on tourism in Northern Ireland, to report at Budget 2018.
To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the amount collected in VAT on ISA fees which was reimbursed to people entitled to such reimbursement on transactions erroneously made subject to VAT between July 2012 and 2016.
To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the amount collected in VAT on ISA fees which was reimbursed to people entitled to such reimbursement on transactions erroneously made subject to VAT between July 2012 and 2016.
HM Revenue and Customs does not collect the requested information. Any VAT paid that is not properly due can be refunded subject to the normal rules. Guidance on how VAT registered businesses can recover overpaid tax can be found on the gov.uk website.
To ask Mr Chancellor of the Exchequer, what progress the Government has made on its consultation report on the effect of VAT on tourism in Northern Ireland.
To ask Mr Chancellor of the Exchequer, what progress the Government has made on its consultation report on the effect of VAT on tourism in Northern Ireland.
The government has agreed to commission a detailed consultative report on the impact of VAT and APD on tourism in Northern Ireland to recommend how best to build upon the growing success of that sector.
Further details on the report will be announced in due course.
Does the Minister look forward, like me, to the days when these protracted discussions are concluded and the Chancellor will have the liberty, which we did not have as members of the EU, to set tax rates across the whole range?
Does the Minister look forward, like me, to the days when these protracted discussions are concluded and the Chancellor will have the liberty, which we did not have as members of the EU, to set tax rates across the whole range?
That is exactly right.
To ask Mr Chancellor of the Exchequer, if he will make an assessment of the potential effect on employment in the hospitality sector of reducing the VAT rate in that sector to 10 per cent.
To ask Mr Chancellor of the Exchequer, if he will make an assessment of the potential effect on employment in the hospitality sector of reducing the VAT rate in that sector to 10 per cent.
The Government has reviewed the economic case for a reduction in VAT for the hospitality sector.
The Government position was set out in the Westminster Hall debate on 17 March 2015.
That this House notes the continuing problems faced by the hospitality sector across the UK; further notes the differential in VAT rates across Europe; and calls on the Government to recognise the beneficial effect of a VAT reduction in the hospitality sector, not just for business owners and customers, but to the wider economy as a whole as the nation seeks to move out of recession, and to implement such a reduction in advance of the 2015 tourist season.
That this House notes the continuing problems faced by the hospitality sector across the UK; further notes the differential in VAT rates across Europe; and calls on the Government to recognise the beneficial effect of a VAT reduction in the hospitality sector, not just for business owners and customers, but...
To ask the Chancellor of the Exchequer if he will ensure that HM Revenue and Customs refunds unnecessary payments of VAT on ISAs.
To ask the Chancellor of the Exchequer if he will ensure that HM Revenue and Customs refunds unnecessary payments of VAT on ISAs.
Any VAT paid to HM Revenue & Customs (HMRC) that is not properly due will be refunded subject to the normal rules. Guidance on how VAT registered businesses can recover overpaid tax can be found on the HMRC website.
To ask the Chancellor of the Exchequer if he will make an assessment of the effect on (a) the economy as a whole and (b) levels of consumer spending of reducing the rate of value added tax to 17.5 per cent.
To ask the Chancellor of the Exchequer if he will make an assessment of the effect on (a) the economy as a whole and (b) levels of consumer spending of reducing the rate of value added tax to 17.5 per cent.
To ask the Chancellor of the Exchequer if he will reconsider his requirement for VAT returns to be made online by April 2012 for small traders in (a) rural and (b) other areas without good broadband access.
To ask the Chancellor of the Exchequer if he will reconsider his requirement for VAT returns to be made online by April 2012 for small traders in (a) rural and (b) other areas without good broadband access.
To ask the Chancellor of the Exchequer what assessment he has made of the likely effect on the economy between 1 January and 31 March 2010 of the return of the level of value added tax to 17.5 per cent.
To ask the Chancellor of the Exchequer what assessment he has made of the likely effect on the economy between 1 January and 31 March 2010 of the return of the level of value added tax to 17.5 per cent.