Not a zero for freight
2nd March 1973, Page 27
2nd March 1973
Page 27
Page 27, 2nd March 1973
— Not a zero for freight
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• In the comment on value added tax and insurance on page 20 of last week's CM, our insurance correspondent stated that transport was fortunate in being zero rated. This should, of course, have read "passenger transport is fortunate ..."
Although passenger transport and the transport of goods for export will be zero rated under the present VAT proposals, the transport of freight, within the United Kingdom will be subject to VAT at the standard rate to be announced but at present believed to be 10 per cent.