Interesting and bizarre VAT facts

Interesting and bizarre VAT facts

1. There is VAT on chocolate biscuits but not on chocolate chip cookies.

2. VAT inspectors are expected to find at least £500 of underdeclared VAT on half the visits made.

3. A recent case appears to bring prostitution into the VAT net.

4. In the year 2000/2001, over 145,000 VAT visits were carried out, and additional tax of almost £1.4 billion was detected.

5. There is VAT on spectacles and contact lenses, but none on glass eyes (not that we are advocating surgery as a VAT avoidance measure!)

For more information email Colin Woodward