§ Miss McintoshTo ask the Chancellor of the Exchequer what assessment he has made of the effect on barristers of his proposed cash basis tax reforms; and if he will postpone their implementation. [28684]
§ Dawn Primarolo[holding answer 10 February 1998]: The Inland Revenue Press Release issued on 22 December invited comments on the proposals to withdraw the cash basis practices available to professional businesses, not just to barristers. The Inland Revenue has received a large number of responses and I myself have received several. The Inland Revenue has also had a number of meetings with representative bodies, including the Law Society, the Bar Council, and the different accountancy bodies. The consultation period ends on 14 February. Thereafter we will be considering the various points made on the proposals, including those concerning the timing of their implementation.
§ Miss McIntoshTo ask the Chancellor of the Exchequer if he will review the proposed withdrawal of cash basis accounting practices available to professional businesses with particular reference to barristers, solicitors and accountants. [28685]
§ Dawn Primarolo[holding answer 10 February 1998]: The proposal to withdraw the cash basis practices available to professionals is the subject of a consultation process which was started by the issue of an Inland 390W Revenue Press Release on 22 December 1997. Comments were invited by 14 February 1998. Thereafter we will be reviewing the proposal in the light of the comments received.