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Fuel (Vat)

Volume 171: debated on Tuesday 1 May 1990

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To ask the Chancellor of the Exchequer what amounts have been collected to date in respect of value added tax arising from commercial consumption of gas, coal, and electricity, respectively; and what estimate he has made of the likely future annual equivalent income from each source.

Value added tax has not yet been imposed. The standard rating of non-domestic fuel and energy supplies from I July of this year is expected to yield £170 million in a full year mainly from the public sector. Most businesses will be able to deduct the VAT on fuel supplied to them as input tax. Separate estimates are not available for gas, coal or electricity.