Collection of VAT at the point of sale

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Petition Action

Collection of VAT at the point of sale

Additional Information

When a purchase is made using a credit/debit card, banks offer the business accepting the payment, the ability to pay instantly the VAT on that purchase.

It would seem that banks are able to collect there own fees when processing a transaction, so why not collect the VAT and pay it straight to the HMC with transaction details and so eliminate the need for a quarterly VAT return for small business.

Benefits: Efficiency saving could fund VAT reduction,Quicker collection of taxes faster repayment of debt,Banks may see PR benefits in offering this service

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