Corporation Tax

Treasury written question – answered on 27th March 2007.

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Photo of David Gauke David Gauke Conservative, South West Hertfordshire

To ask the Chancellor of the Exchequer what his estimate is of the cost of the corporation tax rewrite to (a) the Government and (b) business.

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

The cost of the work of the Tax Law Rewrite project in relation to the rewrite of corporation tax is estimated to be £10 million spread over the years 2005-06 to 2009-10.

The cost of the rewrite to business will mainly arise through tax professionals spending time becoming familiar with the rewritten legislation. It has not been possible to quantify this cost. But users have expressed confidence that the clearer legislation in those Acts will result in efficiency savings many times greater than this initial cost.

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mike beattie
Posted on 28 Mar 2007 5:54 pm (Report this annotation)

Efficiency savings to whom? and why?