You would think a Member of Parliament, faithfully supported by more than 19,000 constituents in Coventry South, would know his stuff about VAT.
However, after this amusing written question and answer exchange with the Treasury on Thursday, we're guessing Jim Cunningham MP might have been left a little red-faced: Mr Jim Cunningham: To ask the Chancellor of the Exchequer what assessment his Department has made of the effect of the rise in VAT in January 2012 on small businesses. Mr Gauke: There was no increase in VAT in January 2012. Poring over hours of live coverage and the Hansard records every week here at IFAonline, we rarely get excited by the goings on in Westminster. However, every once in a while an exchange will co...
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