The UK's strange VAT system explained | IFS Zooms In
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- Опубліковано 20 лис 2023
- From jaffa cakes and gingerbread men, to fur skin flow charts and children's clothes, our VAT system and its byzantine rules seem, on the surface, to be a fun quirk of the UK tax system.
But dig deeper, and one finds economic distortions and inefficiencies due to the complex way the UK's third largest tax is levied.
Leading us through this maze of complexity are Helen Miller, IFS Deputy Director and tax expert, and Dan Neidle, a tax lawyer and founder of Tax Policy Associates.
Find out more: ifs.org.uk/articles/cake-or-b...
Regarding the threshold, what would be the implications of a 0.25% VAT for each £1k from £5k onwards (perhaps based on previous year's turnover)? In other words, would it be possible to remove the cliff edge?