- Downward impact on receipts from the VAT deferral measure which took effect from 20 March 2020
- The Wholesale and Retail sector continued to be the largest contributor to net Home VAT liabilities
- Import VAT receipts was also lower: £4.2 billion (13%) for the year compared to the year ending March 2020. This was mainly due to postponed VAT accounting.
- 68% of total net home VAT declared was paid by traders with an annual turnover greater than £10 million.
Source: marcusward.co
