asked the Chancellor of the Exchequer if he will estimate the increase in revenue to the Exchequer of small businesses in the construction industry being required to register for value added tax when their taxable turnover exceeds £9,750 per annum.
In the absence of reliable information on businesses in the construction industry that are currently not required to register for value added tax, I regret that it is not possible to provide a meaningful estimate.
asked the Chancellor of the Exchequer if he will estimate the loss of revenue to the Exchequer from the construction industry of the value added tax exemption limit for small businesses being raised to (a) £50,000 and (b) £100,000.
Such large changes make any prediction of the likely revenue effects very difficult and subject to considerable uncertainty. I regret therefore that a reliable estimate of the revenue loss cannot be given.