HC Deb 29 November 1991 vol 199 cc695-6W
Mr. Day

To ask the Chancellor of the Exchequer if he will make a statement on the outcome of the consultations on tax returns under corporation tax pay and file.

Mr. Maude

The Inland Revenue published proposals earlier this year on tax returns under corporation tax pay and file. These were generally well received, although there were comments on various points of detail. The Inland Revenue has revised the draft return form to take account of these comments. Companies and their advisers will be invited early next year to complete the revised return form on an experimental basis, to help them to familiarise themselves with the new procedures and to help to identify and correct any mistakes and misunderstandings before the start of pay and file.

There was one criticism which could not be dealt with at this stage as it would involve a change in the law. A number of respondents were concerned that the requirement for returns to be signed by the company secretary could put burdens on companies. The Inland Revenue will be discussing this with bodies representing businesses and their advisers to see whether a solution can be found which would not put undue burdens on the Inland Revenue or risks on the Exchequer. Any legislation needed could be introduced before the start of pay and file.