§ 9. Mr. Stratton Millsasked the Chancellor of the Exchequer why the official explanatory booklets about the Capital Gains Tax and Corporation Tax were not available to the public until 23rd February; and if he will make a statement.
§ Mr. DiamondBecause of other work arising from last year's Finance Act.
§ Mr. Stratton MillsIs the Chief Secretary aware that he has recognised once again the heavy burden which is placed on the Inland Revenue, and will he say specifically why it took six months longer to prepare this booklet than the one prepared by chartered accountants, which 1099 came out in August 1965, and the one prepared by certified accountants, which came out in September 1965?
§ Mr. DiamondTo answer the second part of that question first, outside bodies do not have the Revenue's obligation to give an authoritative interpretation of the law or a statement of the practice which will be followed. To answer the first part, my anxiety—as I have already described to the House and which I think is shared by hon. Members—is not to increase the number of civil servants so as to produce the document unnecessarily early. The only further comment I would make is that this booklet was prepared at a much shorter interval than the comparable booklet prepared by the Tories on a much shorter short-term gains tax.
§ Mr. JenkinWhy did it take the Inland Revenue from July or August until February to find out what the 1965 Finance Act meant?
§ Mr. DiamondIt took the Inland Revenue a longer period to describe what a shorter tax meant.