§ Mr. Coombsasked the Chancellor of the Exchequer whether any decision has been made on the future of section 482 of the Income and Corporation Taxes Act 1970.
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§ Mr. MooreWe have reviewed section 482 and its operation in the light of representations from business. We have concluded that it would be inappropriate to make any substantial changes to the legislation itself at the present time. I have, however, instructed the Inland Revenue to institute a reviwe of the general consents.
Section 482 contains a criminal penalty. The Government will consider the future of this penalty against the background of their deliberations and consultations on the recommendations of the Keith committee on enforcement powers of the Revenue departments.