Member Since: 5th Sep 2001
17th Nov 2017
Can't believe that the OTS is suggesting this(yes I can!) From my recollection, as an OLD accountant, VAT was a French Invention ( quelle surprise.) It is a stupid, complicated and bureaucratic method of raising revenue. Once we have left the EU why not scrap it and revert to good old fashioned purchase tax- known as Sales tax in the USA.; after all it is only really paid by the end retail user.
Another thought- if this would free up loads of VAT people in HMRC they could be redeployed to deal with imports and exports post BREXIT- 2 birds with one stone?!