EU considers whacking VAT (20%) on new homes.

AN EU plan to slap VAT on new homes will send prices soaring, experts warned yesterday.

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.

Source: The Express.

A “consultation” document? You can bet that we don’t get consulted.

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