§ Mr. BercowTo ask the Chancellor of the Exchequer how many firms have paid corporation tax at no more than the 10p rate in each year since its introduction. [14421]
769W
§ Dawn PrimaroloIt is too early to say. The lop rate was introduced from the 2000–01 tax year, and small companies do not have to pay their corporation tax until nine months after the end of their accounting periods. But we estimate that about 150,000 corporation tax payers will be at 10 per cent. (with a further 150.000 paying at an average rate between 10 per cent. and 20 per cent.).
§ Mr. BercowTo ask the Chancellor of the Exchequer what plans he has to simplify the administration of corporation tax. [14422]
§ Dawn PrimaroloThe Government keep the whole tax system under review, acting where possible to change tax rules to minimise burdens on business, while still meeting the Government's objectives for a fair and efficient tax system. The administration of corporation tax is one of a number of areas covered by current or recent reviews.