§ Mrs. RocheTo ask the Chancellor of the Exchequer how much money his Department expects to be collected under self-assessment in 1996–97 from overpayment of income tax. [16202]
§ Mr. Jack[holding answer 20 February 1996]: No estimate has been made. The payments collected under self-assessments in 1996–97 will be the first payments on account for 1996–97, due on 31 January 1997. The amounts due will be based on taxpayers' 1995–96 liabilities. Taxpayers will have the right to claim to reduce the amounts due if they think their tax liability for 1996–97 will be less than for 1995–96.
§ Mrs. RocheTo ask the Chancellor of the Exchequer what assessment his Department has made of the proportion of taxpayers due to pay under the self-assessment system who are likely to make errors leading to financial penalties. [16198]
§ Mr. Jack[holding answer 20 February 1996]: The Department does not expect straightforward errors by taxpayers under self-assessment to lead to financial penalties. The Revenue intends to put right such errors when the return is processed, and taxpayers will not face financial penalties when such "repairs" are made.