MPs Reject VAT

According to a recent survey by Access Opinions, most MPs reject the imposition of VAT as “excessively disadvantageous” to the UK publishing industry. 74% of respondents agreed it would be disadvantageous since in the rest of the EC tax on publications runs at between 2.1 and 8%, with some actually subsidised. 55% felt that it would be unacceptable to risk the closure of up to 1,700 magazines. 54% felt that VAT on publications would be a tax on reading and education.

Overall, 56% rejected the imposition of VAT at 17.5% on magazines and periodicals.