§ Mr. Robert B. Jonesasked the Chancellor of the Exchequer when it is intended to publish draft proposals for implementing the Inland Revenue aspects of volumes 1 and 2 of the Keith committee report.
§ Mr. Ian StewartThe Inland Revenue is, with my approval, today issuing a consultative document, entitled 261W "The Inland Revenue and the Taxpayer" containing detailed proposals in response to the income tax, capital gains tax and corporation tax recommendations of the Keith committee. These proposals follow detailed consultations with a number of representative bodies over the last two years.
The extent of the committee's review, which covered the whole range of the Inland Revenue's powers, is reflected in the 46 draft clauses and two schedules included in the consultative document. It would not be feasible to implement changes of this magnitude in a single Finance Bill.
Subject to reactions to the proposals, the Government are considering giving priority to those clauses which streamline the administration of corporation tax and improve the effectiveness of the PAYE and sub-contractor deduction schemes. The corporation tax proposals are part of a wider programme of reform, including new computer systems which will not be operational for some years. Further details are given in an Inland Revenue press release issued today.