To ask the Chancellor of the Exchequer when the regulations to implement the VAT annual accounting scheme under section 11(1) of the Finance Act 1987 will be laid before the House.

The Value Added Tax (Annual Accounting) Regulations 1988 have been made by the Commissioners of Customs and Excise on 16 May 1988 and are being laid before the House today, to come into force on 1 July 1988. This follows a consultation exercise with trade and professional bodies initiated by Customs and Excise, which is now complete.