Pin It
Use your arrow keys to navigate

Now EU Wants 20% VAT on All New Houses

Thursday 08 November 2012

‘Brussels has quietly issued a con­sultation document that proposes scrapping the current zero VAT rating.

The move to charge the full 20 per cent is part of a plan to standardise tax rates across Europe. It would drive up the average price of a new home by £48,000 from £238,000 to £286,000 and have a catastrophic impact on the UK.

The huge increase would price people out of the market, make it even more difficult to get a mortgage and bring the building industry to its knees.’

Read more: Now EU Wants 20% VAT on All New Houses