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Schedule 46

Part of Finance Bill – in a Public Bill Committee at 12:00 pm on 23rd June 2009.

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Photo of John Howell John Howell Conservative, Henley 12:00 pm, 23rd June 2009

My hon. Friend is right. These costs will be additional costs that a company will incur, on top of what it is already paying, simply to meet the reporting requirements.

Point 2 in the charter goes against point 3 of the taxpayers’ duties, which is about takings reasonable care when they compute their tax returns. That shows that there is no trust in the company that is going through the process of putting these details together.

For those reasons, there are huge gaps in our understanding, which I hope that the Minister will fill. These are real gaps, unlike the accountability gap, in that there is absolutely nothing to provide me with any comfort.