Quote:
Originally Posted by jambutty
This loss of revenue to the Treasury can be recovered simply by increasing VAT on all goods that are sold be they new or second hand and on services like insurance, repairs etc and importantly spending or sending money abroad. In other words there would be a tax on any money that we SPEND and not a tax on money that we EARN.
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Just a quick one.
Insurance does not have VAT it is IPT (Insurance Premium Tax) at 5%.