§ Mr. ColvinTo ask the Chancellor of the Exchequer if he will review the introduction by Her Majesty's Customs and Excise of the serious misdeclaration penalty and default interest on value added tax.
§ Mr. RyderThe working of the penalty for serious misdeclarations and the charging of interest on all underdeclarations will be closely monitored by Customs during the two years following their introduction on 1 April 1990 and reviewed in the first half of 1992.