§ Lord Evans of Claughtonasked Her Majesty's Government:
Why the regulations governing deferred payments of customs and excise duties permit these payments to he made on different dates each month, and whether urgent attention could be given to align these payments which would reduce considerably the costs and expenses of bonded warehousekeepers.
1358WA
§ The Chancellor of the Duchy of Lancaster (Lord Cockfield)Payments of large amounts of tax on any single day can cause significant difficulties in the money markets for the banking system, for its customers involved in the payments and for the authorities in their money market management. This is the main reason why payments of customs and excise duties have been spread over more than one day. But in any case it is considered that alignment of payment dates for customs and excise duties would not reduce significantly the costs and expenses of bonded warehousekeepers.