VAT '73 is opened
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• Copies of two booklets giving comprehensive guidance on Value Added Tax (VAT) are included in a basic information package which is being sent to some 11 million traders by HM Customs and Excise this week. This massive mailing operation is one of the largest information and publicity campaigns ever mounted by Customs and Excise.
The two booklets are "General Guide" and "Scope and Coverage". They will help traders prepare for VAT which comes into operation on April 1 next when Purchase Tax and Selective Employment Tax will be abolished.
The General Guide explains how the new tax operates and provides a list of addresses of Customs and Excise VAT offices throughout the UK. "Scope and Coverage" explains which supplies of goods and services are chargeable with .VAT and which are not.
The package also contains Forms VAT 1 (Notification of Taxable Business), VAT 2 (Details of All Partners). VAT 41 (VAT Trade Classification), and VAT 50 (Applications for Group Registration).