Future Tax Yield

Treasury written question – answered on 4th February 2004.

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Photo of James Gray James Gray Conservative, North Wiltshire

To ask the Chancellor of the Exchequer pursuant to the Report of the Commissioners of Her Majesty's Inland Revenue for the year ending 31 March 2003 (Cm 6050), Page 107, Table 5, Note 5, in which year the inclusion of (a) taxpayer favourable adjustments and (b) additional sums arising from the method of estimating future tax yield prior to that employed in 2002–03 in calculating the compliance performance of the Large Business Office for publication in Inland Revenue annual reports first commenced; who first sanctioned the use of each of these methods to calculate Large Business Office compliance performance; and on what date sanction was given.

Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury)

In April 1998 the Large Business Office introduced an automated system to record adjustments arising from its enquiries into large companies' tax affairs. Inadvertent design faults resulted in the incorrect reporting of the results referred to. As soon as these faults were identified, they were corrected and the results for 2002–03 have been reported on the correct basis

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