§ Ms LawrenceTo ask the Chancellor of the Exchequer if he will make a statement on the Tax Law Rewrite project. [78572]
§ Dawn PrimaroloI am pleased to announce that the Tax Law Rewrite project continues to make very good progress. The Inland Revenue will be publishing on 30 March the project's fourth Exposure Draft, which contains draft clauses on the trading income of individuals. Copies will be placed in the Libraries of the House on that day.
207WThis latest publication includes rewritten legislation covering the rules for calculating the profits of a trade, the basis period rules and the rules on farming. I would strongly encourage anyone with an interest in these areas to participate fully in the consultation process, which is key to the success of the project.