questionText: To ask the Chancellor of the Exchequer, whether she has made and assessment of the potential merits of completing an updated assessment of the potential savings to the Exchequer from withdrawing the postponed VAT accounting process, taking into account (a) increased deferred VAT payments since implementation, (b) growth in missing trader fraud and VAT loss due to misuse or non-compliance,(c) sectoral analysis of industries contributing most to deferred VAT and (d) behavioural and enforcement trends since PVA’s introduction.
answerText: Postponed VAT accounting provides significant support for businesses, helping to manage cash flow and facilitate imports. HMRC undertakes regular operational work to ensure compliance with the rules around postponed VAT accounting. The VAT gap has reduced...
heading: VAT