§ Mr. ButcherTo ask the Chancellor of the Exchequer when the Inland Revenue will make available a provisional compliance cost assessment on the proposals set out in the consultation paper on the taxation of gilts and bonds. [29242]
§ Sir George YoungMy foreword to the Inland Revenue's consultation document makes clear that we are aiming for a major simplification of the current rules. This offers the prospect of substantial long-run compliance cost savings as well as wider efficiency gains. But the precise effects will depend on the details, a number of which have been expressly left open as matters for consultation.
151WIf we decide to proceed with these proposals, the Inland Revenue will make available the compliance cost assessment once the details have been sufficiently settled and the responses given in consultation have been fully evaluated.