§ Lord Evans of Claughtonasked Her Majesty's Government:
Whether, now that the accounting period for payments of customs duty and the payment day for VAT have been aligned, making calendar monthly accounting periods for both customs duty and VAT, the same procedure can be adopted for the accounting period for excise duty.
§ The Chancellor of the Duchy of Lancaster (Lord Cockfield)Despite the forthcoming change affecting VAT on imports and ex-warehouse goods, it remains the case that to align all accounting periods and payment dates for both customs and excise duties would add to difficulties in the money markets.