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31 Oct 2005
Labour backbenchers have ganged up on chancellor Gordon Brown to demand a new single rate of VAT to apply to new building and refurbishment, which will replace existing tax incentives to demolish or build on greenfield sites.
A motion signed earlier this week by five MPs led by Blackpool South's Gordon Marsden attacked the present 17.5% on conversion and repair work compared with zero-rated new construction.
The MPs came out against extending zero rating but urged the government to apply a reduced rate below 10% to all building work, including the conversion, refurbishment and repair of historic buildings and places of worship.
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Briefings
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AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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