Virendra Sharma – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Virendra Sharma on 2016-06-20.

To ask Mr Chancellor of the Exchequer, if he will review the rate of VAT levied on over-the-counter medicines; and if he will make a statement.

Mr David Gauke

VAT is a broad based tax on consumption, with the twenty per cent standard rate applying to most goods and services.

A zero rate of VAT is applied to drugs provided on prescription and dispensed by a dispensing chemist.

The Chancellor keeps all tax policy under review but has no plans to change the VAT treatment of medicines.