- The Chancellor can consider changing UK VAT exemptions post-Brexit.
- VAT could be imposed on private healthcare providers, potentially raising £1.5bn annually.
- A higher VAT rate on luxury items could be reintroduced, similar to the 1974-1976 period.
- Removing VAT reliefs on food and children’s clothes could generate over £6bn per year.
- Raising the headline VAT rate to 21% might increase revenue by over £8bn annually.
- These measures could address fiscal gaps but may have negative political and economic impacts.
Source: mha.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
